Deals
Cypress Set to Acquire Chipmaker Spansion for $1.6 Billion
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Cypress Semiconductor Corp. is acquiring Spansion Inc. for about $1.6 billion in stock, creating a company that will supply chips for products including cars and consumer electronics.
Under the terms of the agreement, Spansion shareholders will receive 2.457 Cypress shares for each Spansion share they own, the companies said in a statement yesterday. Based on Cypress’s closing price of $10.43 yesterday and Spansion’s share count, the deal values Spansion at about $1.6 billion.