Scalper1 News
Semiconductor maker Analog Devices (ADI) announced on Monday that it has agreed to acquire Hittite Microwave (HITT) for $78 per share, a 29% premium over Hittite’s Friday closing price of 60.56. The company said the deal gives Hittite a total enterprise value of about $2 billion, its market cap minus cash. With about 31 million Hittite shares outstanding, the deal is valued near $2.4 billion. Hittite stock was up 29% in morning trading Monday, Scalper1 News
Scalper1 News