ZCZC
BCN-13
GERMANY-US-SEMICONDUCTORS-MERGER
Germany’s Infineon to buy Cypress in 9-bn-euro deal
BERLIN, June 3, 2019 (BSS/AFP) – German chipmaker Infineon sealed a
definitive agreement to make an offer for US competitor Cypress that values
the firm at around nine billion euros ($10.1 billion), the two companies said
in a statement Monday.
Infineon, which has been grappling with a bout of consolidation in the
semiconductor sector, said it agreed to pay $23.85 per share in cash for
Cypress.
“With this transaction, we will be able to offer our customers the most
comprehensive portfolio for linking the real with the digital world,”
Infineon chief executive Reinhard Ploss said in a statement.
“This will open up additional growth potential in the automotive,
industrial and Internet of Things sectors,” he added.
BSS/AFP/HR/1245