7/13, 12:53 PM (Source: TeleTrader)
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Chipmaker Analog buys Maxim for $20.9 billion

Semiconductor company Analog Devices Inc. (ADI) and integrated circuits developer Maxim Integrated Products Inc. announced on Monday the ADI’s acquisition of Maxim in an all-stock transaction for around $20.91 billion. Therefore, the value of the newly-made venture jumped to more than $68 billion.

Maxim stockholders will receive a 0.63% share of ADI's common stock for each share of Maxim common stock they hold at the closing of the transaction. That means that current ADI stockholders will have around 69% of the combined company, while Maxim stockholders will own approximately 31%.

ADI's President and CEO Vincent Roche stated that two companies together "are well-positioned to deliver the next wave of semiconductor growth, while engineering a healthier, safer, and more sustainable future for all people."

Breaking the News / TF