Skyworks completes combination with Qorvo
SWKS•Skyworks completed its combination with Qorvo. Qorvo shareholders will receive $32.50 in cash and 0.960 Skyworks share per share, and the company targets at least $500 million in annualized cost synergies within 24 to 36 months.
1. Combination terms
Skyworks completed its combination with Qorvo, creating a larger U.S.-based RF, power management, analog and mixed-signal semiconductor supplier. Legacy Skyworks holders will own about 63% of the combined company and legacy Qorvo holders about 37%, fully diluted. The combined company will operate as Skyworks and continue trading on Nasdaq under the SWKS ticker; guidance is due Nov. 3.
