Infineon: secures antitrust approvals for Cypress deal
(CercleFinance.com) - German semiconductor maker Infineon Technologies said that it has received all regulatory approvals necessary to complete the acquisition of US rival Cypress Semiconductor.
The announcement comes almost one year after Infineon formalised a definitive agreement under which it would acquire Cypress for about nine billion euros.
Infineon said that the deal will initially be funded through a combination of free cash and a financing facility provided by banks.
The two companies had combined sales of around 11 billion dollars for the past financial year, making the consolidated group one of the world's biggest chipmakers.
Infineon expects to close the deal in the next few days.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The announcement comes almost one year after Infineon formalised a definitive agreement under which it would acquire Cypress for about nine billion euros.
Infineon said that the deal will initially be funded through a combination of free cash and a financing facility provided by banks.
The two companies had combined sales of around 11 billion dollars for the past financial year, making the consolidated group one of the world's biggest chipmakers.
Infineon expects to close the deal in the next few days.
Copyright (c) 2020 CercleFinance.com. All rights reserved.