Mar 07, 2025 | Posted by Abdul-Rahman Oladimeji
US chipmaker Onsemi has proposed an acquisition of Allegro MicroSystems for $35.10 per share in cash. The company has made “numerous attempts over the past six months to enter into constructive discussions regarding a potential transaction,” with its most recent proposal representing an increase to the initial $34.50 per share proposal submitted in September 2024.
“We believe the combination of Onsemi and Allegro would bring two highly complementary businesses together, benefitting our respective customers and delivering immediate value to Allegro shareholders,” said Hassane El-Khoury, president and CEO of Onsemi. “The Allegro team has built an impressive leadership position in magnetic sensing and power ICs for the automotive and industrial end-markets. Together, Allegro’s unique product portfolio and Onsemi’s differentiated intelligent power and sensing technologies would create a diversified leader in automotive, industrial, and AI data center applications.”
In January of this year, Onsemi acquired the Silicon Carbide Junction Field-Effect Transistor (SiC JFET) technology business, including the United Silicon Carbide subsidiary, from Qorvo for $115m in cash.
