Blackstone to buy Freescale for $17.6 billion

Private-equity firm Blackstone Group is buying Freescale Semiconductor in the largest-ever leverage buyout deal yet in the technology sector. The semiconductor company agreed to a $17.6 billion deal that equates to $40 per share--a 36 percent premium over Freescale's average share price. What will Blackstone do with the chip company? Speculation is that the group may either spin off the mobile phone chip business or use the Motorola spinoff as a way to make other acquisitions.

To read more about Blackstone's buy of Freescale:
- check out this article from The Wall Street Journal (sub. req.)