Onsemi proposes to acquire allegro microsystems for $35.10 per share in cash

Scottsdale, ariz.--(business wire)--onsemi (nasdaq: on) today disclosed details of a proposal submitted to the board of directors of allegro microsystems, inc. (“allegro”) (nasdaq: algm) to acquire the company for $35.10 per share in cash for each share (the “proposal”) of allegro's common stock on a fully diluted basis at an implied enterprise value of $6.9 billion. onsemi has made numerous attempts over the past six months to enter into constructive discussions regarding a potential transacti.
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