Spreadtrum Surges After Tsinghua Unigroup Boosts Offer

Spreadtrum Communications Inc., a Chinese mobile-chip maker, surged to a record in New York after agreeing to a $1.78 billion takeover in the largest proposed acquisition of a semiconductor maker in about a year.

Tsinghua Unigroup Ltd., a Chinese state-owned company backed by Tsinghua University, will pay $31 per ADR, 8.8 percent more than it offered last month for the Pudong, China-based company. The American depositary receipts jumped 13 percent to $29.76, the highest since trading began in 2007.