Renesas Deal for U.S. Chip Firm Would Be Valued at $3 Billion
22 8월 2016 - 11:50AM
Dow Jones News
TOKYO—Japanese chip maker Renesas Electronics Corp. on Monday
said it is in talks to buy U.S.-based chip maker Intersil Corp., a
move that could strengthen the Japanese company's business of
making semiconductor components for cars.
"We are considering various options for growth including" a
possible deal with the U.S. company, Renesas said in a
statement.
According to a person familiar with the discussions, the deal,
if reached, would be valued at around 300 billion yen ($3
billion).
The possible takeover, which was reported earlier Monday by the
Japanese business daily Nikkei, would represent a step by Renesas
to stay ahead in an industry that has seen considerable recent
consolidation.
Intersil's customers include companies in the automotive and
aerospace businesses. The company had revenue of $522 million and
net income of $7.2 million in 2015.
Innovation Network Corp. of Japan, a Japanese government-backed
fund that owns a majority stake in Renesas, was looking for a buyer
for the company last year, people familiar with the matter said at
the time, but no deal has resulted.
Renesas was formed through a fusion of chip-making units of NEC
Corp., Mitsubishi Electric Corp. and Hitachi Ltd.
Write to Takashi Mochizuki at takashi.mochizuki@wsj.com
(END) Dow Jones Newswires
August 21, 2016 22:35 ET (02:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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