The acquisition news put the Market in the “buy” mode. Plus, the stocks of rival analog IC (integrated circuit) makers also soared on July 26, 2016.
- Maxim Integrated Products’s (MXIM) stock rose by 5.4% to $40.91.
- Texas Instruments’s (TXN) stock rose by 7.9% to $71.42.
- Microchip Technology’s (MCHP) stock rose by 5.7% to $57.34.
- ON Semiconductor’s (ON) stocks rose by 5.9% to $10.17.
At the end of 2015, ADI and Texas Instruments both made offers to buy Maxim Integrated. However, they later withdrew their offers as they could not agree on a price. Maxim Integrated is open for sale and is welcoming bids.
The analog IC market witnessed two major acquisitions in the last 12 months—Semiconductor (ON) acquired Fairchild Semiconductor for $2.4 billion and Microchip acquired Atmel for ~$3.6 billion.
In this series, we will look deeper into the ADI–LLTC deal and understand the financial and business synergies of the acquisition.
View more information: https://marketrealist.com/2016/07/linear-technology-stock-soar-29-just-30-minutes/