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ADI - Analog Devices Inc News Story

$157.83 2.4  1.6%

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Sector
Technology
Size
Large Cap
Market Cap £41.29bn
Enterprise Value £44.24bn
Revenue £4.22bn
Position in Universe 219th / 6854

Analog Devices get EU nod for $21 bln Maxim buy

Thu 1st April, 2021 8:21am
BRUSSELS, April 1 (Reuters) - U.S. chipmaker Analog Devices
(ADI)  ADI.O  has gained unconditional EU antitrust clearance
for its $21 billion acquisition of rival Maxim Integrated
 MXIM.O , its biggest ever deal, a filing on the European
Commission website showed on Thursday.
    ADI is seeking to boost its market share in automotive and
5G chipmaking with the deal, which will also enable it to better
compete with larger competitors including Texas Instruments
 TXN.O .
    Reuters reported on March 26 that the deal would win EU
approval without the EU competition enforcer demanding
concessions.  urn:newsml:reuters.com:*:nL8N2LO5F5

 (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
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