Infineon Confirms Deal To Buy Cypress Semiconductor For $10B

The closing of the transaction is subject to approval by Cypress shareholders, and securing of other regulatory approvals and customary closing conditions.

Infineon expects economies of scale to create cost synergies of 180 million euros per anum by 2022.

Following successful integration, Infineon said it targets through-cycle revenue growth of 9+ percent and a segment result margin of 19 percent.

Cypress Semi's stock traded higher by 24 percent to $22.18 per share Monday morning.

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