M&A - ALLEGRO MICROSYSTEMS, INC.

Form Type: 425

Filing Date: 2025-03-06

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525047736

Filing Summary: On March 5, 2025, ON Semiconductor Corporation confirmed a proposal to acquire Allegro MicroSystems, Inc. for $35.10 per share in cash. This proposal represents a 57% premium over Allegro's closing share price prior to media reports on the acquisition, implying an enterprise value of approximately $6.9 billion. ON Semiconductor has previously submitted proposals to Allegro, increasing its offer from $34.50. The proposal aims to create synergies between both companies, benefiting customers and shareholders, particularly in sectors like automotive and industrial applications. ON Semiconductor emphasizes its readiness to execute the acquisition swiftly, without financing contingencies, using committed financing and existing cash resources. The report also outlines the risks associated with the transaction and urges Allegro's Board to engage in discussions. The inclusion of regulatory and market conditions is noted as factors that may impact the transaction's success.

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