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Chipmaker Cypress to Buy Peer Spansion in $4 Billion Deal

by Reuters

U.S. chipmaker Cypress Semiconductor said it would buy peer Spansion in an all-stock deal valued at about $4 billion.

Spansion shareholders will receive 2.457 Cypress shares for each Spansion share they own, the companies said on Monday.

Shareholders of each company will own about 50 percent of the combined entity.

(Reporting by Abhirup Roy in Bengaluru; Editing by Savio D’Souza)

This article originally appeared on Recode.net.

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