August 1, 2019 / 5:48 AM / 3 months ago

Infineon confirms thrice-reduced guidance, Cypress deal on track

FRANKFURT, Aug 1 (Reuters) - German chipmaker Infineon said on Thursday it expected to meet its thrice-lowered guidance for the business year to Sept. 30 as it reported fiscal third-quarter sales and profit that were in line with market expectations.

Munich-based Infineon, which in June agreed to buy Silicon Valley-based Cypress Semiconductor for $10 billion, said the deal was on track to close either towards the end of this calendar year or in early 2020. (Reporting by Douglas Busvine Editing by Michelle Martin)

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