Analog Devices shares rose just under 1 per cent, suggesting investors tacitly approved
Reuters had reported on Sunday night that Analog Devices was in advanced talks to acquire Maxim, gaining revenue and cost synergies, given the common focus of the two companies on integrated circuits.The companies said in a statement the deal added Maxim’s strength in automotive and data center markets to ADI’s across broad industrial, communications and digital healthcare segments.
Based in Norwood, Massachusetts, Analog Devices provides sensors, data converters, amplifiers and other signal processing products to a range of industries from transportation and healthcare to instrumentation and portable consumer devices. San Jose, California-based Maxim designs and manufactures analog chips that are used in cars, manufacturing, energy, communications, healthcare and connected devices.
Under the terms, Maxim stockholders will receive 0.630 of Analog Devices stock for each share they own, the companies said in a statement. The deal is expected to add to adjusted earnings of the combined entity in about 18 months following the close, with $275 million in cost savings by the end of year two, they said.Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.
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