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QLogic (QLGC) Stock Jumps, Said to Hire Qatalyst Group to Explore Possible Sale

NEW YORK (TheStreet) -- Shares of QLogic Corp. (QLGC - Get Report) are spiking by 7.82% to $13.79 on heavy trading volume late Friday afternoon as the company hired Qatalyst Partners to explore strategic alternatives, such as a possible sale, sources told Bloomberg.

There is no guarantee that a deal will happen, the sources added.

In August, the company named Jean Hu as its interim CEO after Prasad Rampalli suddenly left to pursue other opportunities, Bloomberg noted.

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