Deals
Infineon Sets Up Semtech, Intersil for $5 Billion Gain: Real M&A
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If Infineon Technologies AG’s appetite is any guide, four U.S. semiconductor companies including Semtech Corp. and Intersil Corp. could garner takeover bids that would enrich shareholders by a total of $5 billion.
Shares of Semtech, Intersil, Fairchild Semiconductor International Inc. and ON Semiconductor Corp. rallied yesterday amid speculation they could be the next targets, after Infineon announced it’s acquiring one of their closest peers for an above-average premium of 56 percent. Should those companies fetch the same premium in a takeover, it would create a combined $5 billion windfall for their investors.