Germany’s Infineon close to acquire Cypress Semiconductor: Bloomberg

June 3, 2019

(Reuters) – German chipmaker Infineon Technologies AG is nearing a deal to buy Cypress Semiconductor Corp, valuing the U.S. chipmaker at almost $10 billion, Bloomberg reported https://www.bloomberg.com/news/articles/2019-06-03/infineon-is-said-to-near-deal-to-acquire-cypress-semiconductor on Sunday.

Infineon will pay between $23-$24 a share for Cypress Semiconductor, Bloomberg reported, citing two people familiar with the matter. 

The offer is at a premium of about 50% from when Bloomberg reported last week that Cypress Semiconductor was exploring options after receiving takeover interest.

Both Infineon and Cypress Semiconductor were not immediately available to comment.

(Reporting by Rishika Chatterjee in Bengaluru; Editing by Rashmi Aich)

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