Analog Devices to buy Linear Technology in chips deal
Analog Devices says it's buying fellow chipmaker Linear Technology Corp. for roughly $14.8 billion.
Analog Devices Inc. said Tuesday its offer is worth about $60 per share, 24 percent more than Linear's closing price Monday. The Norwood, Massachusetts company is offering $46 in cash and 0.2321 of Analog Device stock for each Linear share.
Analog Devices says the combined company will have annual revenue of about $5 billion and aims to reach $150 million in cost savings 18 months after the deal closes.
It plans to issue new stock and long-term debt to fund the purchase.
The transaction has been approved by the boards of both companies and is expected to close in mid-2017.
Linear Technology is based in Milpitas, California.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.