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Allegro Confirms Receipt of Unsolicited Proposal from onsemi

1. Allegro received a $35.10 per share acquisition proposal from onsemi. 2. The Board found the proposal inadequate after reviewing it with advisors. 3. No further comments will be provided unless necessary.

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Why Bullish?

The acquisition offer suggests market confidence in Allegro's assets, indicating potential upside.

How important is it?

An unsolicited acquisition proposal signifies strong market interest, potentially increasing ALGM's valuation.

Why Short Term?

Initial market reaction may boost stock price temporarily until final decisions are made.

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ONAMDNVDA
March 06, 2025 00:51 ET  | Source: Allegro MicroSystems, Inc. MANCHESTER, N.H., March 06, 2025 (GLOBE NEWSWIRE) -- Allegro (NASDAQ: ALGM) ("Allegro" or the "Company") today confirmed that it received an unsolicited proposal from onsemi to acquire Allegro for $35.10 per share in cash on February 12, 2025. The Allegro Board of Directors reviewed the proposal, in consultation with its independent financial and legal advisors, and determined that the proposal was inadequate. Allegro does not intend to comment further on this matter unless it determines it necessary to do so. PJT Partners is serving as financial advisor to Allegro. Davis Polk & Wardwell LLP is serving as legal advisor to Allegro. About Allegro MicrosystemsAllegro MicroSystems, Inc. is leveraging more than three decades of expertise in magnetic sensing and power ICs to propel automotive, clean energy and industrial automation forward with solutions that enhance efficiency, performance and sustainability. Allegro’s commitment to quality drives transformation across industries, reinforcing our status as a pioneer in "automotive-grade" technology and a partner in our customers' success. For additional information, visit https://www.allegromicro.com/en/. Allegro Contact:Jalene HooverVP of IR & Corporate CommunicationsPhone: +1 512 751 6526jhoover@allegromicro.com Matt Sherman / Aaron PalashJoele Frank, Wilkinson Brimmer Katcher+1 (212) 355-4449

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