Reuters reports that shares of ARM Holdings jumped as much as 32% today on renewed rumors that Apple is looking to take over the company. It is unclear exactly what triggered the new round of speculation, as the rumor first surfaced in earnest in late April.
At the time, ARM dismissed the rumors, arguing that such an acquisition makes no sense given ARM's business model. And with respect to the latest rumors, an ARM spokeswoman again denied that it had been approached about a takeover.
"Hearing (an) old rumour that Apple want to bid for them," said one trader.
A spokeswoman for ARM said the chip designer had not received an approach, and said a takeover from Apple would not make sense, reiterating comments made by its CEO Warren East in April and its President Tudor Brown last month.
ARM is the chip design firm that provides the basic platform for Apple's mobile chips used in the iPhone, iPad, and iPod touch, as well as numerous other mobile devices from a broad array of manufacturers. ARM does not produce the chips itself, however, choosing instead to license its designs to chipmakers for modification and production.