Silicon Laboratories (SLAB) Touches 4-Year High on $7.5-Billion Merger

We recently published 10 Stocks With Monster Gains. Silicon Laboratories Inc. (NASDAQ:SLAB) was one of the top performers on Wednesday.

Silicon Laboratories soared to a four-year high on Wednesday, as investors gobbled up shares following news that it was set to merge with Texas Instruments for $7.5 billion.

At intra-day trading, the stock climbed to its highest price of $207.50 apiece before trimming gains to end the session just up by 48.89 percent at $203.41.

In a statement, Texas Instruments said that it signed a definitive agreement with Silicon Laboratories Inc. (NASDAQ:SLAB) for the acquisition of its shares at a price of $231 apiece in an all-cash transaction.

The acquisition is expected to create a global leader in embedded wireless connectivity solutions by combining Silicon Laboratories Inc.’s (NASDAQ:SLAB) strong portfolio and expertise in mixed signal solutions with Texas Instruments’ leading analog and embedded processing portfolio and internally owned technology and manufacturing capabilities.

The transaction is expected to close in the first half of 2027, subject to regulatory approvals.

”Texas Instruments and Silicon Labs share a strong Texas heritage and a long-term commitment to building technology companies the right way,” Silicon Laboratories Inc. (NASDAQ:SLAB) President and CEO Matt Johnson said.

“Over the last decade, Silicon Labs has delivered double-digit growth, driven by the accelerating demand for more connected devices. The opportunity ahead is significant for both Texas Instruments and Silicon Labs. By combining our embedded wireless connectivity portfolio with Texas Instruments’ scale, technology and manufacturing capabilities, we will be positioned to serve more customers and accelerate innovation.”

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.