Infineon digs deep to buy Cypress in $10 billion deal
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Summary
6 Min ReadFRANKFURT (Reuters) - Infineon has agreed to buy Cypress Semiconductors in a deal that values the U.S. maker of microchips used in cars and electronic devices at 9 billion euros ($10.1 billion) including debt, sending shares in the German company sharply lower on concerns over the cost. Infineon was among the few companies in a sector facing headwinds that could finance a deal that in more prosperous times might have been out of its reach, veteran CEO Ploss said. Infineon said it expected the deal, subject to regulatory approval, to close by the end of this or in early 2020, creating a leader in the automotive sector with a global market share of more than 13%.
As said here by Arno Schuetze