Allegro Confirms Receipt of Unsolicited Proposal from onsemi

Core Viewpoint - Allegro received an unsolicited acquisition proposal from onsemi for $35.10 per share in cash, which the Allegro Board deemed inadequate after review [1]. Company Summary - Allegro Microsystems, Inc. has over three decades of expertise in magnetic sensing and power integrated circuits, focusing on automotive, clean energy, and industrial automation sectors [3]. - The company emphasizes enhancing efficiency, performance, and sustainability through its solutions, reinforcing its status as a pioneer in "automotive-grade" technology [3].