Reported 2 days ago
Onsemi has made a bid to acquire Allegro MicroSystems for $6.9 billion, or $35.10 per share, in response to declining revenues amid a downturn in the automotive market. Allegro deemed the offer 'inadequate,' despite struggling with a 33% drop in auto sales, while experiencing gains in data center and medical sales. The acquisition could provide Onsemi with new revenue streams and bolster its position in the competitive semiconductor industry.
Source: YAHOO