Monday, September 21, 2015

Atmel Acquired By Dialog Semiconductor For $4.6 Billion

San Jose-based Atmel is in a deal to be acquired by London-based Dialog Semiconductor, for $4.6 billion, the two said over the weekend. The two companies said that Dialog will pay both cash and stock for Atmel. Dialog said it will pay $4.65 in cash and 0.112 of Dialog American Depository Shares (ADS) for each of Atmel's common shares. The deal is worth approximately $10.42 per Atmel share. The two said the deal has an enterprise value of $4.4 billion after accounting for Atmel's net cash. Dialog was advised by Morgan Stanley and Davis Polk & Wardwell LLP and Reynolds Porter Chamberlain LLP (RPC) in the deal; Atmel was advised by Qatalyst Partners and Jones Day.