The American semiconductor manufacturer ON Semiconductor Corp. Onsemi has engaged Morgan Stanley and UBS Group AG to evaluate the proposed acquisition of Allegro Microsystems Inc. This is reported in the Onsemi press release.
In early March 2025, Onsemi submitted an offer to acquire Allegro for $6.9 billion ($35 per share), including debt obligations, but was rejected by the company's management.
Allegro's largest shareholder is Japan's Sanken Electric Co. (32%). Allegro has a market value of $4.5 billion, while Onsemi has a market value of $17 billion.
The deal makes strategic sense for Allegro, as both companies are developing semiconductor devices and sensor solutions for vehicle control that are used in automotive engines and security systems, as well as in data centers and enterprises.
Onsemi is an American semiconductor manufacturer headquartered in Scottsdale, Arizona. The products include power management devices, logic and discrete devices for the automotive industry, computing, industrial LED lighting, defense and aerospace industries, and energy. Onsemi was spun off from the Motorola Semiconductor Components Group in 1999. The headquarters is located in Phoenix, Arizona.
Allegro is an American developer and manufacturer of integrated circuits for the automotive industry. The headquarters is located in Manchester, New Hampshire.
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