Spansion and Cypress

Cypress Semi are offering a premium merger deal for Spansion (CODE). This is a little annoying for me as Spansion was doing well as an independent and I thought it had potential to 50x in the IoT space. It had shareholder support from the likes of Soros’ fund and was really performing. The SP seems to be up 15%+ overnight which might be an interesting exit point but at only a ~50% gain this is not what I hoped for (even if the RoI on a 6 month average holding period is not bad).

Alternatively I could go with the new Cypress stock, however they are coming from the blind side to me. They seem to have had their day having 10x’d from their origins but have somewhat stagnated of late. They don’t represent IoT to me but they could fit into my cloud, big data & cyber mega theme with their flash storage. Perhaps this will even be the making of Spansion with more resources and a superior brand name.

Anyone got a view on Cypress or the deal?
Thanks
Ant