Published February 13, 2015 11:28am EST | Updated May 21, 2015 1:29pm EDT

Freescale Semiconductor Shares Rally 8% On Report Company Is Exploring Sale

Freescale Semiconductors Ltd. shares surged 8% Friday, after the New York Post said the company has hired investment bankers to explore a possible sale, citing a source close to the situation. The company, which was spun out of Motorola in 2004, is owned by private-equity firms Blackstone, Carlyle, TPG and Permira. Shares have gained 93% in the last three months, far outperforming the S&P 500's 2.7% gain.