Allegro Stock Jumps as Chip Maker Rejects Onsemi's $35.10 Per Share Bid
1. Allegro Microsystems rejected Onsemi's $35.10 per share buyout offer. 2. Onsemi's proposal is seen as inadequate by Allegro's management. 3. Onsemi's shares fell about 5% following Allegro's rejection. 4. Allegro shares rose nearly 8% after the rejection announcement. 5. Onsemi recently reported disappointing financial results amid tough conditions.