ON Semiconductor is interested in taking over Allegro Microsystems, causing a 7% stock price increase.

From Investing.com: 2025-03-02 10:50:38

Allegro Microsystems is reportedly attracting interest from ON Semiconductor for a potential takeover, according to Bloomberg News. The news has caused a spike in Allegro’s stock price, with shares rising by over 7% following the report. Allegro is a manufacturer of semiconductors used in automotive and industrial applications. ON Semiconductor’s interest in the company signals potential consolidation in the semiconductor industry.



Read more at Investing.com: Allegro drawing takeover interest from ON Semiconductor, Bloomberg News reports