Good morning.

Thanks for joining this call as I really need your help with an urgent task.

We have a client in the semiconductor space that is looking at potential acquisition targets and is looking for our advice to quantify potential synergies now, rather helpfully. There was a very similar m and a deal in this space a few years ago, and I would like your help quantifying the synergies which were achieved.

Do you think you can help with this analysis? The synergies that I need you to analyze relate to the acquisition of Maxim integrated by Analog devices, a deal which completed in 2021.

Now, management announced the estimated synergies for that deal in a press release in July, 2020.

I'd like you to dig out the press release to find their initial estimates, identify the nature of the expected synergies, and calculate the synergies as a percentage of the targets LTM revenues.

Now, our client is very concerned about how achievable synergies are versus initial expectations, and also wants some reassurance based on the analog devices deal.

So can you also take a look at Analog Devices 2023 financial year results and runs some analysis to see what synergies were delivered versus the initial expectations.

Now, any observations that you have about the source of synergies achieved versus initial expectations would also be really helpful.

To help you with your analysis, I set up an Excel file that you can use and that is available on our team's shared drive.

I expect this work to take you about an hour, so please drop me an email when it's ready for review.

Thanks so much and I'll catch up with you later. Bye.