Analog Devices in advance talks to buy Linear Technology: Bloomberg

Reuters News
Posted: Jul 26, 2016 2:53 PM

(Reuters) - Analog Devices Inc <ADI.O> is in advanced talks to buy fellow chipmaker Linear Technology Corp <LLTC.O>, Bloomberg reported, citing people familiar with the matter.

The deal could be announced as soon as Tuesday, Bloomberg said.

Linear Technology, which had a market valuation of about $11.59 billion as of Monday's close, and Analog Devices could not immediately be reached for comment.

Trading in shares of both companies were halted.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty)