onsemi Withdraws Proposal to Acquire Allegro MicroSystems

By onsemi Newsroom

14 Apr 2025

SCOTTSDALE, Ariz. – April 14, 2025 – onsemi (NASDAQ: ON) today announced that it has terminated its efforts to acquire Allegro MicroSystems, Inc. (“Allegro”) (NASDAQ: ALGM) and withdrawn its all-cash proposal to acquire Allegro for $35.10 per share.

While onsemi continues to believe that a combination of these companies would have brought two highly complementary businesses together, benefiting their respective customers and delivering immediate value to Allegro shareholders, onsemi has determined there is no actionable path forward.