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flag Onsemi proposes to buy Allegro Microsystems for $6.46 billion, but Allegro deems the offer inadequate.

flag Onsemi has proposed to acquire Allegro Microsystems for $35.10 per share in cash, valuing the company at about $6.46 billion. flag Allegro, which specializes in chips for automotive and industrial applications, has deemed the offer inadequate after consulting with independent advisors. flag This is Onsemi's latest attempt to acquire Allegro, offering a 31% premium over Allegro's last closing price.

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