© Reuters. Shareholders arrive for the annual meeting of German semiconductor manufacturer Infineon in Munich

(Reuters) – German chipmaker Infineon Technologies AG is nearing a deal to buy Cypress Semiconductor Corp, valuing the U.S. chipmaker at almost $10 billion, Bloomberg reported on Sunday.

Infineon will pay between $23-$24 a share for Cypress Semiconductor, Bloomberg reported, citing two people familiar with the matter. 

The offer is at a premium of about 50% from when Bloomberg reported last week that Cypress Semiconductor was exploring options after receiving takeover interest.

Both Infineon and Cypress Semiconductor were not immediately available to comment.

(This story corrects syntax in headline)

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2019-06-02