The European Commission (EC) cleared a proposed acquisition of Maxim Integrated Products by semiconductor rival Analog Devices, a transaction expected to complete by mid-year.
In a brief notification, EC competition regulators gave a green light without raising any concerns about the deal between the two US-based companies.
The US$20.9 billion all-stock deal was announced in July 2020 and is a tie-up Analog Devices said would expand its range of technological and engineering abilities, helping it “deliver the next wave of semiconductor growth”.
In its statement at the time, Analog Devices added Maxim’s strengths in developing technologies for the automotive and data centre markets complemented its general industrial, communications and digital healthcare products.
The deal was approved by shareholders of both companies in October 2020, when Analog Devices noted it was still waiting for the regulatory nod from authorities outside the US.
During an earnings call in February covering fiscal Q1 2021 (calendar Q4 2020), Analog Devices said the deal was on track to complete by the middle of this year.