Allegro Acknowledges Unsolicited Acquisition Proposal from onsemi

MANCHESTER, N.H., March 06, 2025 (GLOBE NEWSWIRE) -- Allegro (NASDAQ: ALGM) has officially announced that it received an unsolicited proposal from onsemi regarding a potential acquisition. The proposal, dated February 12, 2025, offers $35.10 per share in cash for Allegro.

The Board of Directors at Allegro has reviewed this offer with guidance from its independent financial and legal advisors. Following this review, the Board has concluded that the proposal is inadequate and does not meet the interests of the company or its shareholders.

Allegro has indicated that it will not provide additional comments on this situation unless deemed necessary in the future.

Financial advisory services for Allegro are being provided by PJT Partners, while Davis Polk & Wardwell LLP is serving as the company's legal advisor.

About Allegro MicroSystems

Allegro MicroSystems, Inc. has over thirty years of experience in magnetic sensing and power integrated circuits (ICs). The company is committed to advancing automotive, clean energy, and industrial automation sectors through innovative solutions that improve efficiency, performance, and sustainability. Allegro aims to set a standard for 'automotive-grade' technology while being a reliable partner for its customers in their growth and success. For more details, you can visit their website at Allegro MicroSystems.

Contact Information

For inquiries, you may contact:
Jalene Hoover
VP of IR & Corporate Communications
Phone: +1 512 751 6526
Email: [email protected]

Additionally, for media relations, reach out to:
Matt Sherman / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
Phone: +1 (212) 355-4449

Allegro, onsemi, acquisition