ON Semiconductor Withdraws $6.9 Billion Bid to Acquire Allegro
ON Semiconductor Corp. scrapped efforts to acquire Allegro MicroSystems Inc., withdrawing a bid of $35.10 a share.
ON Semiconductor, which does business as Onsemi, determined that there was “no actionable path forward” toward a deal, according to a statement on Monday. Allegro slid about 12% to $19.40 in late trading in the wake of the announcement.
Onsemi disclosed its offer last month, saying it made a bid valuing the company at $6.9 billion including debt. The latest bid was up from a September proposal of $34.50.
The company is “committed to taking a disciplined approach to capital allocation and maximizing long-term stockholder value,” Onsemi Chief Executive Officer Hassane El-Khoury said in the statement.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。
热议股票
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10