infineon acquiring cypress
News Infineon Acquires Cypress Semiconductor Following a Security Review of the $10 Billion Deal March 10, 2020 by Hana Othman There were strong concerns regarding whether the merger between Infineon and Cypress Semiconductor would actually go through after an announcement that the transaction would be subjected to a U.S. national security review. Infineon Technologies has announced the closing of the acquisition of Cypress Semiconductor, which it said will strengthen its focus on structural growth drivers and on a … On 3 June 2019, Infineon and Cypress announced that the companies had signed a definitive agreement under which Infineon would acquire Cypress for US$23.85 per share in … Infineon Technologies AG announced the losing of the acquisition of Cypress Semiconductor Corporation. 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 on Sunday. The Board of Directors of International Rectifier and Infineon’s Supervisory Board unanimously supported the offer of Infineon to pay USD 40 per outstanding share. In early June 2019, Infineon and Cypress signed an agreement under which Infineon will acquire Cypress. Reinhard Ploss, CEO of Infineon, said: "The planned acquisition of Cypress is a landmark step in Infineon's strategic development. Cypress said it would have to pay a $330 million break fee if Infineon is outbid. “The acquisition of Cypress is a landmark step in Infineon’s strategic development,” said Infineon CEO Reinhard Ploss. Infineon's proposed tie-up values Cypress nearly 50% higher than the stock price prior to media reports that a deal was in the works. “Together, we offer our customers the industry’s most comprehensive portfolio for linking the real with the digital world and shaping digitalization, one of the most important global trends. Subsequently, all regulatory authorities had approved the acquisition – as did the shareholders of International Rectifier with a majority of 99.5 percent of all votes cast. “The acquisition of Cypress is a landmark step in Infineon’s strategic development,” said Infineon … With the acquisition, Infineon expects to be catapulted into the top position in the supply of semiconductors to the automotive OEMs. The San José-based company has become part of Infineon effective as of the Closing. Infineon should pay $425 million, in other situations, if the deal falls apart. Munich, Germany, and San Jose, California – 10 and 09 March 2020 – On 9 March 2020, the Committee on Foreign Investment in the United States (“CFIUS”) concluded its review under Section 721 of the Defense Production Act of 1950, of the planned acquisition of Cypress Semiconductor Corporation as announced by Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) on 3 June 2019. The acquisition enables Infineon to offer the industry's most comprehensive portfolio for connecting the real and digital worlds. Infineon Technologies AG says it will pay €9 billion or about $10.1 billion for Cypress Semiconductor, plunging into the chip M&A market in a bold bid to strengthen offerings and counter aggressive moves by competitors over the last several years.