Japan's Renesas in talks to buy US chipmaker Intersil: report
[NEW YORK] Japan's Renesas Electronics Corp is in the final stages of negotiations to acquire American chipmaker Intersil Corp, according to a report on Sunday from Nikkei Asian Review.
The Japanese chipmaker is expected to spend up to 300 billion yen (S$4.03 billion) on the deal, the report said, adding that a basic agreement could be reached as early as this month.
Intersil's market capitalisation amounted to more than US$2.1 billion as of Friday. Renesas will add a premium to buy Intersil shares, seeking to take full control of the Milpitas, California-based company, it said.
Renesas also plans to use cash on hand and may also consider borrowing funds from banks, the report added.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
Meta’s results are best viewed through rose-tinted AI glasses
'Harvesting data': Latin American AI startups transform farming
After long peace, Big Tech faces US antitrust reckoning
Tech’s cash crunch sees creditors turn ‘violent’ with one another
Tech millionaires chase billionaire tax shields with ‘swap fund’
Elon Musk’s Starlink profits are more elusive than investors think