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ADI - Analog Devices Inc News Story

$148.88 4.4  3.0%

Last Trade - 05/03/21

Sector
Technology
Size
Large Cap
Market Cap £39.68bn
Enterprise Value £42.64bn
Revenue £4.23bn
Position in Universe 213th / 6651

BUZZ-Marvell to buy Inphi in $10 bln chip deal; Inphi shares surge

Thu 29th October, 2020 11:29am
** Shares of optical communications chipmaker Inphi Corp
 IPHI.O  surge >30% to $148.25 premarket on M&A news. IPHI could
open at record high if gains hold
    ** Chip supplier Marvell Technology Group  MRVL.O  on Thurs
said agreed to buy IPHI in $10 bln cash-and-stock deal to
bolster data center, 5G business  urn:newsml:reuters.com:*:nL1N2HK08R
    ** Under the deal, MRVL will give IPHI shareholders $66 in
cash and 2.32 shares of stock in the combined co for each share
of IPHI
    ** Post deal, MRVL shareholders will own about 83% of
combined co, while IPHI shareholders will own about 17%
    ** IPHI's stock has gained 50% YTD for about $6 bln market
cap, per Refinitiv data
    ** MRVL's shares, off >4% before the bell, have risen 49%
this year for roughly $26 bln market value
    ** Deal comes as semiconductor industry continues to
consolidate. Advanced Micro Devices Inc  AMD.O  on Tues said it
would buy Xilinx Inc  XLNX.O  in $35 bln deal  urn:newsml:reuters.com:*:nL1N2HI0U8

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))
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