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EZchip Surges on Marvell Acquisition Bets: Israel Overnight

EZchip Semiconductor Ltd. rose the most in a month in New York on speculation Marvell Technology Group Ltd. will buy the Israeli maker of network processors to stave off growing competition.

EZchip gained 11 percent to $32.65 on the Nasdaq Stock Market, the most since Aug. 3, as Benchmark Co. and MKM Partners LP said Broadcom Corp.’s plan to acquire semiconductor company NetLogic Microsystems Inc. for $3.7 billion will compel Marvell to buy EZchip. Shares of EZchip rose the most yesterday among members of the Bloomberg Israel-US 25 Index of the largest Israeli companies traded in New York.