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Actionable news in ISIL: Intersil Corporation,

Intersil (ISIL) Stock Surges on Takeover Speculation

NEW YORK (TheStreet) -- Shares of Intersil (ISIL) were jumping 9.6% to $20.10 on heavy trading volume mid-Wednesday afternoon as the Milpitas, CA-based chipmaker nears a deal with Renesas Electronics, according to sources cited by Reuters.

Intersil has been weighing bids from both Japanese semiconductor producer Renesas and San Jose-based integrated circuit maker Maxim Integrated Products (MXIM), but is reportedly leaning toward selling to Renesas.

The company has weighed the roughly $3 billion offer from Renesas against the possibility of an in-depth review from the...