- The China State Administration for Market Regulation issued an antitrust clearance for chipmaker Analog Devices, Inc's ADI proposed acquisition of peer Maxim Integrated Products, Inc. MXIM.
- It is a big win amid a rigorous global regulatory environment that saw roadblocks to NVIDIA Corp's NVDA Arm deal.
- Analysts have also hailed the arrangement amid the intense chip crisis environment, which is likely to persist beyond 2021.
- Strong end-markets drove Analog Devices' Q3 revenue of $1.8 billion, up 20.8% year-on-year, beating the consensus of $1.71 billion.
- Price Action: ADI shares traded higher by 1.78% at $169.60, and MXIM shares traded higher by 4.82% at $106.55 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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