RTTNews | Mar 24, 2021 10:00AM EDT

09:59 Wednesday, March 24, 2021 (RTTNews.com) - Inphi Corp. (IPHI) shares are rising more than 7 percent on Wednesday morning trade after Inphi set April 15 as the date for a general meeting to vote for the proposed acquisition of the company by Marvell Technology Group Ltd (MRVL). The shares have been gaining since the start of March.

Digital storage provider Marvell and the high-speed data movement operator Inphi had filed the definitive joint proxy statement/prospectus with the SEC on March 11.

Currently, Inphi is at $174.16, up 7.74 percent from the previous close of $161.63 on 1,693,062. For the 52-week period, the shares have traded in a range of $70.36-$182.22 on average volume of 736,538.

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