onsemi proposes to acquire Allegro MicroSystems for $35.10 per share cash, $6.9B EV

ON SEMICONDUCTOR CORP

All-cash proposal at $35.10/share represents 57% premium to Allegro's close on Feb 28, 2025.
Implied enterprise value of $6.9 billion; initial $34.50/share offer made Sept 2, 2024.
onsemi has attempted engagement for six months; urges Allegro board to negotiate in good faith.
No financing contingency; deal would be funded by committed financing, cash, and revolving credit.
Combination aims to create a diversified leader in automotive, industrial, and AI data center applications.

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