Deals
PMC-Sierra Rises After Whitworth’s Relational Boosts Stake
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PMC-Sierra Inc. rose the most in more than 2 1/2 years after Ralph Whitworth’s Relational Investors LLC increased its stake and said it may push for “strategic alternatives” aimed at lifting the stock price.
Shares of Santa Clara, California-based PMC-Sierra, which makes chips for computer networking and data-storage equipment, gained 10 percent to $6.41 at the close, the biggest increase since April 24, 2009. The stock fell 36 percent last year.