India, Oct. 21 -- Wednesday, Analog Devices, Inc. (ADI) announced that Tutanota LLC has made an offer to buy up to 100,000 ADI shares at $525 per share in cash.
However, the offer is conditioned on the closing price per share of ADI common stock exceeding $525.00 per share on the last trading day before the offer expires.
Although the offer price is currently above the market price of ADI common stock, this condition means that, unless it is waived by Tutanota, tendering ADI shareholders whose shares are purchased in the offer would receive a price below the market price of ADI common stock at the time the offer closes, the company stated.
If this condition is not met, Tutanota does not have to buy the shares.
The company recommends tha...