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Fairchild Semiconductor Int’l (FCS) Stock Jumps on Sale Speculation

NEW YORK (TheStreet) -- Fairchild Semiconductor International (FCS - Get Report) stock is gaining by 16.97% to $16.54 in afternoon trading on Wednesday, after reports suggested the company hired Goldman Sachs (GS) to explore a sale of the chip maker, according to Bloomberg.

Some of the potential buyers include ON Semiconductor Corp. (ON) and Infineon Technologies AG (IFNNY), sources told Bloomberg.

Fairchild, which has a market value of about $2 billion, is a veteran in the semiconductor industry, but now lags behind larger producers such as Texas Instruments (TXN).

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There has been about $110 billion in mergers and acquisition in the semiconductor industry so far this year as companies face higher production costs and declining customer base, Bloomberg noted.

There's also speculation that flash storage manufacturer SanDisk Corp. (SNDK) is seeking to sell itself, Bloomberg reported...