Overview

• Onsemi officially withdrew its $6.9 billion acquisition proposal for Allegro MicroSystems on April 14, 2025, citing a lack of engagement from Allegro's board.
• The offer, valued at $35.10 per share, was described as inadequate by Allegro following an earlier rejection of a $34.50 per share proposal.
• Onsemi CEO Hassane El-Khoury stated there was no actionable path forward, leading to the decision to terminate acquisition efforts.
• Allegro’s shares dropped 12.5% in extended trading following the announcement, while Onsemi’s stock rose by up to 2.47%.
• Onsemi plans to prioritize other opportunities, including its existing stock buyback program and long-term investments in automotive and industrial markets.