Sep 11, 2018
Renesas set to acquire chipmaker IDT for $6.7 billion
Renesas set to acquire chipmaker IDT for $6.7 billion
Japanese firm Renesas Electronics announced its plans to buy US chipmaker Integrated Device Technology (IDTI) for $6.7 billion. The $49 per share-deal is said to be at a 16% premium to Integrated Device’s stock price on Monday and is expected to close by next June.
Renesas plans to fund the transaction mainly through a bank loan of $6.1 billion and cash and believes it will be able to generate…
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