Allegro Drawing Takeover Interest From ON Semiconductor, Bloomberg News Reports
Allegro Microsystems is drawing takeover interest from larger competitor ON Semiconductor, as the sensor integrated circuits provider explores options for its future. Onsemi has been working with advisers in recent months to pursue Allegro, and it's possible other suitors could emerge for the company. The acquisition of Allegro would bolster Onsemi's automotive capabilities.
- This potential deal highlights the ongoing consolidation trend in the semiconductor industry, where larger companies are seeking to expand their product offerings through strategic acquisitions.
- How will a takeover by ON Semiconductor impact the competitive landscape and innovation in the sensor integrated circuits market, particularly in relation to autonomous vehicles?