Germany's Infineon close to acquire Cypress Semiconductor: Bloomberg

Business


FILE PHOTO: Shareholders arrive for the annual meeting of German semiconductor manufacturer Infineon in Munich, southern Germany, February 16, 2017. REUTERS/Michaela Rehle

(Reuters) – German chipmaker Infineon Technologies AG is nearing a deal to buy Cypress Semiconductor Corp, valuing the U.S. chipmaker at almost $10 billion, Bloomberg reported here on Sunday.

Infineon will pay between $23-$24 a share for Cypress Semiconductor, Bloomberg reported, citing two people familiar with the matter. 

The offer is at a premium of about 50% from when Bloomberg reported last week that Cypress Semiconductor was exploring options after receiving takeover interest.

Both Infineon and Cypress Semiconductor were not immediately available to comment.

Reporting by Rishika Chatterjee in Bengaluru; Editing by Rashmi Aich



Source link

Products You May Like

Articles You May Like

Two new postage stamps dedicated to the theme “Flora and Fauna. Flora and Fauna of Armenia”
China's huge mysterious extinct ape 'Giganto' was an orangutan cousin
Membrane in a minute: Singapore scientists produce in-vitro human skin
ARMBUSINESSBANK opened the third branch in Lori
Lavrov’s Sensational Statement: Nikol Pashinyan is Right

Leave a Reply

Your email address will not be published. Required fields are marked *