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ADI - Analog Devices Inc News Story

$153.93 2.0  1.3%

Last Trade - 05/05/21

Sector
Technology
Size
Large Cap
Market Cap £40.84bn
Enterprise Value £43.79bn
Revenue £4.21bn
Position in Universe 222nd / 6849

EXCLUSIVE-Analog Devices' $21 bln Maxim buy set for EU approval -source

Fri 26th March, 2021 4:42pm
(Adds European Commission declines comment, no immediate
comment from companies, shares)
    By Foo Yun Chee
    BRUSSELS, March 26 (Reuters) - U.S. semi-conductor maker
Analog Devices Inc (ADI) is set to gain unconditional European
Union antitrust approval for its proposed $21 billion takeover
of Maxim Integrated Products, a person familiar with the matter
said.
    The deal, ADI's  ADI.O  biggest, will boost its market share
in automotive and 5G chipmaking and enable it to better compete
with larger firms including Texas Instruments  TXN.O .
    The European Commission, which is scheduled to decide on the
bid by March 31, declined to comment. ADI and Maxim  MXIM.O  did
not immediately respond to requests for comment.
    Maxim's shares gained after the Reuters report and were 2.9%
higher, while ADI's rose 2.7%.
    ADI's strength is in broad industrial, communications and
digital healthcare segments while Maxim is strong in automotive
and data centre markets.
    Based in Norwood, Massachusetts, ADI supplies sensors, data
converters, amplifiers and other signal processing products to a
broad swathe of industries from transportation to healthcare,
instrumentation and portable consumer devices.
    San Jose, California-based Maxim designs and manufactures
analog chips that are used in cars, manufacturing, energy,
communications, healthcare and connected devices.

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