Maxim Jumps as Deal With Analog Devices Wins China Approval (1)

Aug. 23, 2021, 1:47 PM

Maxim Integrated Products Inc. shares jumped Monday after China approved its acquisition by Analog Devices Inc..

The $21 billion transaction has now received all required regulatory clearances, and the two companies anticipate the deal will close on or around Aug. 26, they said in a statement.

Maxim gained 5.8% as the market opened in New York while Analog Devices was up 2.9%.

Analog Devices agreed to acquire rival Maxim in July 2020, creating a larger rival for Texas Instruments Inc. in the market for analog and embedded processor chips, crucial components in the spread of computing and intelligence ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.