Deals
TDK Agrees to Buy InvenSense for About $1.3 Billion in Cash
- Company offering $13 a share cash for maker of sensors
- Bid provides a 20 percent premium to Tuesday’s closing price
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TDK Corp. agreed to buy InvenSense Inc. in a deal that values the supplier of sensors to Apple Inc. and other smartphone makers at about $1.3 billion.
The offer is worth $13 a share in cash for the San Jose, California-based company, according to a BusinessWire statement on Wednesday. The bid is 20 percent higher than InvenSense’s closing price of $10.84 on Tuesday. InvenSense surged 17 percent Wednesday to $12.72 at 10:22 a.m. in New York.