(Corrects to drop reference to debt in paragraph 2)
June 9 (Reuters) - Chipmaker Analog Devices Inc said it would buy Hittite Microwave Corp in a deal valued at $2 billion.
Analog will pay $78 per share in cash, which represents a premium of 28.8 percent to Hittite Microwave's Friday close of $60.56 per share.
Analog said it expected to fund the acquisition through cash on hand and short-term debt.
Reporting by Lehar Maan in Bangalore; Editing by Kirti Pandey