Having received regulatory approval from the China’s Ministry of Commerce, Analog Devices expects to complete its acquisition of Linear Technology on 10 March 2017. The approval of the Chinese ministry was said to be the last step in the acquisition process.
“As we clear this final regulatory hurdle and prepare to close this transaction, we are well positioned to begin integrating Analog Devices and Linear Technology,” said Vincent Roche, pictured, Analog’s president and CEO. “Since the transaction announcement in July, our two organisations have been planning and preparing to move quickly to a united operation upon close. As we now turn to that integration, we are excited about creating additional value for our customers, employees and shareholders.”
Under the terms of the acquisition, Linear shareholders will receive $46 per share in cash, along with 0.2321 of an Analog Devices share for each Linear share they hold. According to Analog, this makes a Linear share worth about $60, making Linear worth approximately $14.8billion. Once the acquisition is complete, Analog expects its annual revenues to be about $5bn.
