Infineon Confirms Deal To Buy Cypress Semiconductor For $10B
Merger Monday has dawned with an announcement of a multi-billion dollar deal in the semiconductor space, which has been recently plagued by an industry downcycle as well as China tariff woes. What Happened Within a week after rumors swirled of a potential sale, Cypress Semiconductor Corporation (NASDAQ: CY ) confirmed it has agreed to be acquired by Infineon Technologies AG (OTC: IFNNY ) for $23.85 per share in cash, translating to an enterprise value of 9 billion euros, or $10.05 billion. The per share offer price represented a 46-percent premium to the 30-day volume-weighted average price for the period ending May 28, the day prior to the one when reports of a potential sale emerged. Since the German chipmaker intends to … Full story available on Benzinga.com
Infineon Confirms Deal To Buy Cypress Semiconductor For $10B
Merger Monday has dawned with an announcement of a multi-billion dollar deal in the semiconductor space, which has been recently plagued by an industry downcycle as well as China tariff woes. What Happened Within a week after rumors swirled of a potential sale, Cypress Semiconductor Corporation (NASDAQ: CY ) confirmed it has agreed to be acquired by Infineon Technologies AG (OTC: IFNNY ) for $23.85 per share in cash, translating to an enterprise value of 9 billion euros, or $10.05 billion. The per share offer price represented a 46-percent premium to the 30-day volume-weighted average price for the period ending May 28, the day prior to the one when reports of a potential sale emerged. Since the German chipmaker intends to … Full story available on Benzinga.com