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Fairchild Semi Said Working With Goldman Sachs to Find Buyer

Fairchild Semiconductor International Inc. hired Goldman Sachs Group Inc. to help it find a buyer and is in discussions with potential suitors including ON Semiconductor Corp. and Infineon Technologies AG, people familiar with the matter said.

No deal is assured and a transaction isn’t imminent, said the people, who asked not to be identified because the discussions are private. Fairchild had a market value of about $1.6 billion at the close Tuesday. The shares surged 23 percent to $17.45 as of 1:17 p.m. in New York, giving the...