Reported 1 day ago
Allegro Microsystems, a provider of sensor integrated circuits, is reportedly attracting takeover interest from larger competitor ON Semiconductor, according to Bloomberg News. The report reveals that ON Semiconductor has been engaging advisors to explore a potential acquisition, although Allegro has not confirmed any willingness to sell. With a market valuation of $4.11 billion compared to ON Semiconductor's $19.83 billion, Allegro may be an appealing target for companies looking to enhance their automotive capabilities. Meanwhile, Allegro has appointed Mike Doogue as its new president and CEO.
Source: YAHOO