Good thing this wasn’t announced on April 1! The Wall Street Journal is reporting that TI intends to buy National Semiconductor for $6.5 billion, $25/share, essentially a 78% premium over today’s closing price for National’s stock. These two semiconductor firms are analog semiconductor powerhouses with large businesses in non-analog markets as well. TI says that this move will immediately grow National’s sales team by 10x.
The article also states that TI has pulled out of the recession with a sharp rebound in orders while National Semi has not done as well. This apparently created a big acquisition opportunity for TI.
