Advent Seeks to Buy Swiss Chipmaker U-blox in $1.3 Billion Deal

Advent International offered to buy U-blox Holding AG, a Swiss maker of positioning chips, in a deal valued at about 1.05 billion Swiss francs ($1.3 billion).

Advent’s cash offer of 135 Swiss francs per share, while representing a 53% premium over volume-weighted averages of the last six months, is less than U-blox’s closing price of 138.60 Swiss francs on Friday.

U-blox shares jumped almost 25% on Friday after Bloomberg News reported on the potential transaction, marking their biggest one-day gain since August 2022. The shares are up about 90% this year.

Assuming a 21-day offer period, the acceptance window ...