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Chuan Ying Feiling is close to a $10 billion deal to buy chip maker Cypress

via:博客园     time:2019/6/3 12:06:44     readed:130

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Tencent Technologies News, June 3, according to foreign media reports, according to people familiar with the matter, Infineon Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Semiconductor Sem

The two companies could announce the agreement as early as Monday, local time, and Infineon's valuation of Cypress Semiconductor was close to $10 billion, including debt, according to people familiar with the matter.

Infineon will buy Cypress Semiconductor's shares for $23 to $24 a share, more than 50% higher than the share price it considered selling after receiving an offer, two people familiar with the matter said.

Cypress Semiconductor shares closed at $17.82 a share on Friday, bringing the company's market value to $6.5 billion.

Cypress Semiconductor, based in San Jose, declined to comment. Infineon, whose headquarters are in Germany, did not immediately respond to requests for comment.

Infineon, with a market capitalization of 18.2 billion euros ($20 billion), has remained largely on the sidelines over the past five years as the semiconductor industry has been reshaped by transaction matching. In 2017, Infineon terminated an agreement to acquire the Wolfspeed Power division of LED and lighting maker Cree. Earlier, the US National Security Agency reviewed the deal.

Infineon's share price has fallen by nearly a third in the past year, and the chipmaker revised its performance outlook twice against the backdrop of global economic uncertainty and a slowdown in Chinese auto sales.

Cypress Semiconductor is mainly engaged in the design and manufacture of flash memory chips, microcontrollers, or chips used to power small electronic devices. With the help of a acquisition, the company's annual revenue more than doubled in five years, reaching $2.5 billion by 2018. (Tencent Technology Revision/Jinlu)

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