Renesas Confirms Talks to Buy Apple-Supplier Dialog Semi
(Bloomberg) -- Renesas Electronics Corp. of Japan said it’s in talks to acquire Dialog Semiconductor Plc, the U.K. chip designer whose clients include Apple Inc.Renesas is making an all-cash offer of 67.50 euros per share, according to a statement on Monday. It said no final decision has been made and there’s no guarantee it will proceed with the acquisition. The Japanese company would pay about 4.9 billion euros ($5.9 billion) to take over its target, Bloomberg News reported on Sunday.The offer price is a 20% premium to Dialog’s Friday close of 56.12 euros. Shares of the Frankfurt-listed company have risen around 25% since the start of the year, boosted by strong demand for Apple’s 5G handsets as well as takeover speculation.Renesas shares dropped as much as 6.9% in Tokyo.Dialog had been in advanced discussions with suitors including Renesas and working with advisers, people familiar with the matter said on Sunday. The company was previously holding discussions with STMicroelectronics NV before the Franco-Italian company was outbid, the people said at the time.The volume of deals involving semiconductor companies more than doubled last year to $144 billion, according to data compiled by Bloomberg.
Renesas Confirms Talks to Buy Apple-Supplier Dialog Semi
(Bloomberg) -- Renesas Electronics Corp. of Japan said it’s in talks to acquire Dialog Semiconductor Plc, the U.K. chip designer whose clients include Apple Inc.Renesas is making an all-cash offer of 67.50 euros per share, according to a statement on Monday. It said no final decision has been made and there’s no guarantee it will proceed with the acquisition. The Japanese company would pay about 4.9 billion euros ($5.9 billion) to take over its target, Bloomberg News reported on Sunday.The offer price is a 20% premium to Dialog’s Friday close of 56.12 euros. Shares of the Frankfurt-listed company have risen around 25% since the start of the year, boosted by strong demand for Apple’s 5G handsets as well as takeover speculation.Renesas shares dropped as much as 6.9% in Tokyo.Dialog had been in advanced discussions with suitors including Renesas and working with advisers, people familiar with the matter said on Sunday. The company was previously holding discussions with STMicroelectronics NV before the Franco-Italian company was outbid, the people said at the time.The volume of deals involving semiconductor companies more than doubled last year to $144 billion, according to data compiled by Bloomberg.