logo
Plus   Neg
Share
Email

Synaptics And Dialog Semiconductor Terminate Merger Talks

Synaptics Inc. (SYNA) said that it terminated its discussions with Dialog Semiconductor plc (DLGNF.PK,DLGS) regarding the potential acquisition of Synaptics by Dialog. Synaptics said it does not intend to make any additional comments regarding the discussions at this time.

SYNA closed Tuesday's regular trading at $50.11, up $0.35 or 0.70 percent. But, in the after-hours trading, the stock dropped $6.81 or 13.59 percent.

"We are extremely confident in our strategic direction and excited by the significant opportunities before us. We are well-positioned to continue as a standalone growth company and will remain disciplined in generating superior long-term value for our shareholders," said Rick Bergman, president and CEO, Synaptics.

Synaptics said it expect to report earnings per share for its recently completed fourth quarter at the high end of itsprior guidance and looks forward to providing more detail on the fourth quarter on our earnings call scheduled for August 9, 2018.

Separately, Dialog Semiconductor confirmed that it terminated discussions with Synaptics regarding a potential acquisition of Synaptics.

Jalal Bagherli, CEO of Dialog, said, ".... Dialog remains committed to extending its product portfolio througha combination of organic development and acquisitions, broadening itscustomer base, and creating value for customers and shareholders.'

Dialog will be publishing the second-quarter of 2018 results for the quarter ended June 29, 2018 as planned on August 2, 2018.

Last month, Synaptics confirmed that it was engaged in discussions with Dialog Semiconductor regarding the potential acquisition of Synaptics by Dialog.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT