Filing Flows › Littelfuse (LFUS) › Takeover & LBO
Is Littelfuse (LFUS) a takeover target?
A leveraged buyout at today's price plus 30% ($511.00 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $251.86 a share (−36% against today's $393.08).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $511.00 | today's $393.08 plus 30% |
| × shares | 25.7 million | |
| = Equity value | $13.1B | |
| + Debt refinanced | $630M | |
| − Cash | $825M | |
| = Enterprise value | $12.9B | 44.6× EBITDA of $290M |
| Fees | $258M | 2% of the price |
| New debt | $1.6B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $11.6B | 88% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $3.0B | $313M | $122M | $84.9M | $1.5B |
| Year 2 | $3.2B | $334M | $116M | $104M | $1.4B |
| Year 3 | $3.4B | $353M | $108M | $124M | $1.3B |
| Year 4 | $3.5B | $368M | $98.0M | $143M | $1.1B |
| Year 5 | $3.6B | $379M | $87.1M | $161M | $977M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 34.1× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $12.9B | |
| − Debt left | $977M | |
| = Buyer's equity | $11.9B | |
| Money multiple | 1.03× | on $11.6B put in |
| Buyer's yearly return (IRR) | 0.6% |
Price against return
What the buyer makes at other premiums over today's $393.08; the IRR reaches 20% at $251.86 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $432.39 | 4.6% |
| 20% | $471.70 | 2.5% |
| 30% | $511.00 | 0.6% |
| 40% | $550.31 | −1.1% |
| 50% | $589.62 | −2.6% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $2.8B | |
| EBITDA, last 12 months | $290M | 10.5% of revenue |
| Depreciation and amortization | $139M | |
| Capital spending | $66.4M | |
| Debt | $630M | |
| Cash | $825M | |
| Share price | $393.08 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 30% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Littelfuse would cost about $550.31 a share, $14.1B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 14.7% | $450.86 | $11.6B |
| Median | 40% | $550.31 | $14.1B |
| High end (a quarter paid more) | 60.2% | $629.71 | $16.2B |
Littelfuse's latest quarter
Littelfuse, Q3 2026: revenue $767M (+23% year over year), operating margin 20.0%, net earnings $115M, operating cash flow $230M. The chart follows the revenue to costs, profit and cash.
Questions
Is Littelfuse being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Littelfuse?
A leveraged buyout at today's price plus 30% ($511.00 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $251.86 a share (−36% against today's $393.08).
What would a takeover of Littelfuse cost?
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Littelfuse would cost about $550.31 a share, $14.1B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.