Analog Devices Recommends Shareholders Reject "Mini-Tender" Offer by Tutanota LLC

Analog Devices Recommends Shareholders Reject "Mini-Tender" Offer by Tutanota LLC PR Newswire

WILMINGTON, Mass., Oct. 21, 2026 /PRNewswire/ -- Analog Devices, Inc. (NASDAQ: ADI) today announced that it has received notice of an unsolicited mini-tender offer by Tutanota LLC ("Tutanota") to purchase up to 100,000 shares of ADI common stock at a price of $525.00 per share in cash. The offer price of $525.00 per share is conditioned on, among other things, 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. If the condition is not satisfied, Tutanota is not obligated to purchase any shares. The shares subject to Tutanota's offer represent less than 0.03% of ADI's shares of common stock outstanding as of the October 12, 2026 offer date.