Skyworks heads for strongest week in 17 years as Qorvo merger nears close

  • Skyworks said its merger with Qorvo entered final stages.
  • Skyworks shares gained 22% this week and traded at $88.81 Friday afternoon.
  • Skyworks targets a year-end closing for the merger.

Skyworks Solutions is on track for its strongest weekly advance in 17 years after CEO Phil Brace said its $22 billion merger with Qorvo has entered final stages and should close by year-end. Shares were up 22% for the week and rose 5.6% to $88.81 in Friday afternoon trading, following Thursday's 9.8% jump to $84.03. The transaction has cleared U.S. antitrust review, while China’s State Administration for Market Regulation advanced its examination to Phase III. The combination would create a dominant U.S. supplier of RF front-end chips and is projected to generate roughly $7.7 billion in revenue and $2.1 billion in Adjusted EBITDA.

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