Microchip Technology Agrees to buy Microsemi

Microchip Technology Inc. agreed to buy Microsemi Corp. for $8.3 billion, a deal that would create a growing power in chips for everything from washing machines and cars to missiles.

Microchip will pay $68.78 a share in cash for Microsemi, the companies said Thursday, confirming a report earlier this week by The Wall Street Journal. Including debt, the deal has a value of just over $10 billion.

It...