By Stephen Nakrosis
Shares of Allegro MicroSystems were trading lower in the after-hours market after ON Semiconductor said it was withdrawing its acquisition offer.
Onsemi said Monday it was withdrawing its $35.10 per share offer, saying it determined there is no actionable path forward.
After the bell, Allegro MicroSystems shares were down 12% at $19.25. The stock ended the day's regular session with a loss of almost 1%, closing at $22.01.
Onsemi shares ended the day at $35.62, gaining 1.5% in the regular session. After hours, the stock was up by less that 1%, at $35.96.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 14, 2025 18:07 ET (22:07 GMT)
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