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On Semiconductor has made a $6.9 billion bid to acquire Allegro Microsystems at a price of $35.10 per share. Allegro, which had a market capitalization of approximately $4.9 billion as of March 5, has deemed the proposal inadequate. The company's Board of Directors reviewed the unsolicited offer in consultation with independent financial and legal advisors and stated that they do not intend to comment further on the matter. Allegro's CEO, El-Khoury, emphasized the company's strong position in magnetic sensing and power integrated circuits, noting potential strategic fits in automotive, industrial, and AI data centers.
Onsemi makes $6.9 billion bid for Allegro Microsystems https://t.co/x6vC571fEM
Allegro Microsystems $ALGM rejects ON Semiconductor's $ON $6.9B takeover bid at $35.10/share as “inadequate.” CEO El-Khoury highlights Allegro's strong position in magnetic sensing & power ICs, with a potential strategic fit in auto, industrial & AI data centers.
Allegro Microsystems $ALGM jumps after the company confirmed that it received an unsolicited proposal from On Semiconductor $ON to acquire Allegro for $35.10 per share in cash. Allegro said the offer was inadequate and that it does not intend to comment further on this matter… https://t.co/VeBDJFRWoI
