On November 30, 2016, Analog Devices entered into an Underwriting Agreement among
Analog Devices and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC and MUFG Securities Americas Inc., as representatives of the several underwriters named therein (the
Underwriting Agreement), pursuant to which Analog Devices intends to issue $400 million aggregate principal amount of 2.500% senior unsecured notes due December 5, 2021 (the 2021 Notes), $550 million aggregate principal
amount of 3.125% senior unsecured notes due December 5, 2023 (the 2023 Notes), $900 million aggregate principal amount of 3.500% senior unsecured notes due December 5, 2026 (the 2026 Notes) and $250 million
aggregate principal amount of 4.500% senior unsecured notes due December 5, 2036 (the 2036 Notes and, together with the 2021 Notes, the 2023 Notes and the 2026 Notes, the Notes) in a public offering pursuant to a
registration statement on Form S-3 (File No. 333-207043) (the Registration Statement) and a related prospectus and prospectus supplement, each as filed with the Securities and Exchange Commission (the SEC). The Notes are
to be issued under an indenture between Analog Devices and The Bank of New York Mellon Trust Company, N.A., as trustee (the Indenture), as supplemented by a supplemental indenture to be entered into with the trustee. The offering is
expected to close on December 5, 2016, subject to customary closing conditions.
Analog Devices expects that the net proceeds from the sale of the
Notes will be approximately $2.075 billion after deducting underwriting discounts and estimated offering expenses. Absent a special mandatory redemption, Analog Devices intends to use the net proceeds to finance a portion of the cash consideration
due in connection with its pending acquisition of Linear. In the event of a special mandatory redemption, Analog Devices intends to use the net proceeds from the 2026 Notes for general corporate purposes, which may include capital expenditures,
repurchases of its common stock under its stock repurchase program, repayment or refinancing of existing indebtedness, dividend payments and acquisitions.
The above description is qualified in its entirety by reference to the Underwriting Agreement, which is filed as Exhibit 1.1 hereto and incorporated herein by
reference.
The full text of the press release issued in connection with the announcement of the pricing of the offering is attached as Exhibit 99.1 to
this Form 8-K and incorporated herein by reference.
This Current Report on Form 8-K contains forward-looking statements that involve a number of risks and
uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in Analog Devices Annual Report on Form 10-K for the year ended October 29, 2016,
under the section Risk Factors, which is on file with the SEC. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on current expectations,
estimates, forecasts, and projections about the industries in which we operate and the beliefs and assumptions of our management. Words such as expects, anticipates, targets, goals,
projects, intends, plans, believes, seeks, estimates, continues, may, could and will, and variations of such words and similar
expressions are intended to identify such forward-looking statements. In addition, any statements that refer to projections regarding our future financial performance, including interest and other expense; completion of the offering on the terms
described, if at all; our anticipated growth and trends in our businesses; the proposed acquisition of Linear and financing for the proposed transaction; the ability to satisfy the conditions to closing of the proposed transaction, on the expected
timing or at all; the ability to obtain required regulatory approvals for the proposed transaction, on the expected timing or at all, including the potential for regulatory authorities to require divestitures in connection with the proposed
transaction; the occurrence of any event that could give rise to the termination of the merger agreement; the risk of stockholder litigation relating to the proposed transaction, including resulting expense or delay; higher than expected or
unexpected costs associated with or relating to the transaction; the risk that expected benefits, synergies and growth prospects of the transaction may not be achieved in a timely manner, or at all; the risk that Linears business may not be
successfully integrated with ours following the closing; the risk that we and Linear will be unable to retain and hire key personnel; and the risk that disruption from the transaction may adversely affect Linears or our business and
relationships with their customers, suppliers or employees; our future liquidity, capital needs and capital expenditures; our future market position and expected competitive changes in the marketplace for our products; our ability to pay dividends
or repurchase stock; our ability to service our outstanding debt; our expected tax rate; the effect of new accounting pronouncements; our ability to successfully integrate acquired businesses and technologies; and other characterizations of future
events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those
identified in the section entitled Risk Factors and elsewhere in our Annual Report on Form 10-K. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no
obligation to revise or update any forward-looking statements, including to reflect events or circumstances occurring after the date of the filing of this Current Report on Form 8-K, except to the extent required by law.