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What: Shares of power amplifier specialist Skyworks Solutions
So what: Skyworks and Advanced Analogic had previously announced an acquisition deal in May valued at $6.13 per share, but the two were at an impasse over having access to certain financial information. Skyworks had threatened to walk away if it didn't get its way, and the announcement today shows that the two were able to settle their differences.
Now what: The amended merger agreement now carries a price tag of $5.80 per share in cash, as opposed to the cash and stock deal that came before it. Skyworks is using its available cash on hand to finance the $257 million deal without taking on any additional debt, as the company had roughly $410.1 million in cash and equivalents on the books recently. Investors are relieved to have the affair behind the company, as it could have turned into a drawn-out expensive legal battle.
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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