{"id":367879,"date":"2011-04-04T22:02:48","date_gmt":"2011-04-04T22:02:48","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/04\/texas-instruments-to-buy-national-semi-for-6-5b\/"},"modified":"2011-04-04T22:02:48","modified_gmt":"2011-04-04T22:02:48","slug":"texas-instruments-to-buy-national-semi-for-6-5b","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/04\/texas-instruments-to-buy-national-semi-for-6-5b\/","title":{"rendered":"Texas Instruments to buy National Semi for $6.5B"},"content":{"rendered":"<p><div readability=\"78.481144343303\"><span id=\"fb-recommend\"\/><br \/>\n<span>By Ken Sweet, contributing writer<\/span><span>April 4, 2011: 6:02 PM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><\/p>\n<p>NEW YORK (CNNMoney) &#8212; Texas Instruments said late Monday that it has agreed to buy rival National Semiconductor for $6.5 billion in cash. <\/p>\n<p>The deal would make Texas Instruments one of the world&#8217;s largest makers of analog technology components, which are used to convert real-world information, like sounds, into digital signals.<\/p>\n<p>Under the terms of the deal, Texas Instruments will pay $25 a share for National Semiconductor &#8212; a 78% premium to National Semiconductor&#8217;s share price of $14.07 as of Monday&#8217;s close. Texas Instruments said it will fund the deal through a combination of cash on hand and company-issued debt.<\/p>\n<p>TI estimates that the market for analog semiconductors was a $42 billion industry in 2010, and says it held around 14% of the market. National Semiconductor controls around 3%.<\/p>\n<p>&#8220;Our share in the analog sector is still modest and we have room to grow,&#8221; said TI&#8217;s CEO Rich Templeton in a conference call with investors. &#8220;This transaction is part of our strategy.&#8221;<\/p>\n<p>The companies said the deal would combine their complementary product portfolios and increase National Semiconductor&#8217;s sales position by giving it access to Texas Instrument&#8217;s large sales force. In exchange, TI gets access to National Semiconductor&#8217;s portfolio of industrial products.<\/p>\n<p>Templeton said he expects the deal will be accretive to earnings in the first year, and will make analog semiconductors sales account for around 50% of TI&#8217;s annual revenue.<\/p>\n<p>National Semiconductor was not looking to sell itself, but Texas Instruments&#8217; unsolicited offer was too generous to turn down, National&#8217;s CEO, Don Macleod, told investors. <\/p>\n<p>The deal is expected to close in six to nine months, pending regulatory and shareholder approvals, the companies said. TI said it does not expect any major regulatory hurtles.<\/p>\n<p>Shares of National Semiconductor (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=NSM&#038;source=story_quote_link\">NSM<\/a>) and Texas Instruments (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=TXN&#038;source=story_quote_link\">TXN<\/a>, <a href=\"http:\/\/money.cnn.com\/magazines\/fortune\/fortune500\/2010\/snapshots\/407.html?source=story_f500_link\">Fortune 500<\/a>) were halted in after-market trading. Shares of National Semiconductor have gained 2.3% so far this year before the deal was announced, while Texas Instruments&#8217; shares are up 5% year-to-date.\u00a0<a href=\"http:\/\/money.cnn.com\/2011\/04\/04\/technology\/texas_instruments_national_semiconductor_deal\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p>First Published: April 4, 2011: 5:09 PM ET<\/p>\n<p><!--endclickprintexclude--><\/div>\n<\/p>\n<p>Continued here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/ib0OoJ0ouZc\/index.htm\" title=\"Texas Instruments to buy National Semi for $6.5B\" rel=\"noopener noreferrer\">Texas Instruments to buy National Semi for $6.5B<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> By Ken Sweet, contributing writer April 4, 2011: 6:02 PM ET NEW YORK (CNNMoney) &#8212; Texas Instruments said late Monday that it has agreed to buy rival National Semiconductor for $6.5 billion in cash. The deal would make Texas Instruments one of the world&#8217;s largest makers of analog technology components, which are used to convert real-world information, like sounds, into digital signals<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-367879","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Texas Instruments to buy National Semi for $6.5B - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/04\/texas-instruments-to-buy-national-semi-for-6-5b\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas Instruments to buy National Semi for $6.5B - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By Ken Sweet, contributing writer April 4, 2011: 6:02 PM ET NEW YORK (CNNMoney) -- Texas Instruments said late Monday that it has agreed to buy rival National Semiconductor for $6.5 billion in cash. 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