Microchip Tech agrees to acquire Microsemi in deal with more than $10 billion [MarketWatch]
Microchip Technology Incorporated (MCHP)
Last microchip technology incorporated earnings: 2/4 04:10 pm
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Source: MarketWatch
Microchip Tech agrees to acquire Microsemi in deal with more than $10 billion Microchip Technology Inc. MCHP, +0.10% announced Thursday afternoon that it has agreed to acquire fellow chip maker Microsemi Corp. MSCC, -0.92% at an enterprise value of more than $10 billion. Microchip Tech said it has agreed to pay $68.78 a share for the company for a total equity value of $8.35 billion, while the cash and investments that Microsemi holds pushes the valuation up to $10.15 billion. "Joining forces and combining our complementary product portfolios and end market exposure will offer our customers a richer set of solution options to enable innovative and competitive products for the markets they serve," Ganesh Moorthy, Microchip Tech's chief operating officer and president, said in the announcement. Microchip said it will finance the transaction through cash, an existing line of credit, and at least $5 billion in new debt. Microchip said that it expects the deal to add to its non-GAAP
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MCHP
News
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MCHP
Earnings
- 2/1/24 - Beat
MCHP
Sec Filings
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- MCHP's page on the SEC website