Analog Devices to Buy Maxim
13 Juli 2020 - 12:52PM
Dow Jones News
By Matt Grossman
Analog Devices Inc. has agreed to acquire Maxim Integrated
Products Inc. in an all-stock transaction, the companies said
Monday. The deal values the combined companies at more than $68
billion, according to the companies.
The Wall Street Journal had reported Sunday evening that the
companies were in merger talks.
Maxim stockholders will receive 0.63 shares of Analog common
stock for each share of Maxim stock they own when the deal closes,
which is expected next summer, the companies said. Current Analog
stockholders will own 69% of the combined companies, while Maxim
owners will control the other 31%.
Both companies make analog semiconductors.
Maxim shares traded 17% higher since Friday's close in premarket
activity Monday morning. Analog shares rose 0.9%.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
July 13, 2020 06:37 ET (10:37 GMT)
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