Benzinga | Mar 26, 2021 01:40PM EDT

EU Antitrust Regulators To Unconditionally Approve Analog-Maxim Acquisition: Reuters

* E.U. antitrust regulators are ready to unconditionally approve Analog Devices Inc's (NASDAQ: ADI) proposed acquisition of Maxim Integrated Products Inc (NASDAQ: MXIM) for $21 billion, Reuters reports.

* The deal will drive ADI's market share in automotive and 5G chipmaking, cementing its position against rivals like Texas Instruments Inc (NASDAQ: TXN).

* ADI held cash and cash equivalents worth $1.05 billion as of January 30, 2021.

* Price action: ADI share prices traded higher by 2.96% at $154.33 on the last check Friday. MXIM share prices traded higher by 3.26% at $91.30.