Big Tech
Onsemi Discloses Allegro Takeover Bid at $6.9 Billion Value
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ON Semiconductor Corp. made its pursuit of Allegro Microsystems Inc. public on Wednesday, disclosing an unsolicited bid valuing the company at $6.9 billion including debt.
The chip company, which does business as Onsemi, is offering $35.10 per share for Allegro, up from a September proposal of $34.50, it said in a statement. Allegro responded hours later to say it had reviewed the bid but found it “inadequate.”