Onsemi makes play for Allegro MicroSystems again, values rival at $6.9 billion

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Onsemi makes play for Allegro MicroSystems again, values rival at $6.9 billion - Channel News Asia

Quick Summary:

U.S.chipmaker Onsemi is making another attempt to acquire smaller rival Allegro MicroSystems for cash, after being rebuffed repeatedly over the past six months, as it looks to ride out a prolonged slump in demand for automotive chips.Onsemi has offered $35.

The larger rival, which recently rolled out a cost-cutting plan, intends to fund the takeover using committed financing, cash, and a revolving credit facility.

New Hampshire-based Allegro provides power management systems used in EVs and traditional vehicles, as well as chips essential for systems that assist vehicles brake and steer.