MergerAug 3, 2026, 06:13 AM
Skyworks Merger with Qorvo Progresses; Shareholders Approve
AI Summary
Skyworks Solutions, Inc. provided an update on its merger agreement with Qorvo, Inc., initially signed on October 27, 2025. The transaction, which involves Qorvo becoming a wholly-owned subsidiary of Skyworks, received approval from shareholders of both companies on February 11, 2026. Skyworks also commenced exchange offers for Qorvo's outstanding senior notes, with requisite consents already obtained for indenture amendments. The company expressed hope for the merger to close within the calendar year, pending regulatory approvals. Additionally, Qorvo's unaudited Q1 2026 financials were included, showing net income of $85.8 million on revenue of $784.8 million.
Key Highlights
- Skyworks and Qorvo entered a merger agreement on October 27, 2025.
- Each Qorvo share will convert into 0.960 Skyworks shares and $32.50 in cash.
- Qorvo equityholders are expected to own approximately 37% of the combined company.
- Shareholders of both companies approved the merger on February 11, 2026.
- Skyworks initiated exchange offers for Qorvo's $850 million 2029 Notes and $700 million 2031 Notes.
- Qorvo reported Q1 2026 net income of $85.8 million, up from $25.6 million year-over-year.
- Qorvo's Q1 2026 revenue was $784.8 million, compared to $818.8 million year-over-year.
Price Impact
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