A Renesas Electronics Corp. central processing unit (CPU) board and microcontrollers.
Kiyoshi Ota | Bloomberg | Getty Pictures
Renesas Electronics Corp and Dialog Semiconductor mentioned on Monday that they had agreed for the Japanese chipmaker to purchase the Frankfurt-listed chip designer for 4.9 billion euros ($5.90 billion) in money.
Renesas, one of many world’s greatest auto chip makers, has supplied 67.50 euros a share for the Apple Inc provider, representing a 20% premium to Friday’s closing worth and a 52% premium to a weighted three-month common.
Dialog mentioned in an announcement that the agreed deal represented a “compelling alternative” for its shareholders. Its board of administrators would unanimously suggest the supply.
Dialog shares have been 21% larger in early Frankfurt buying and selling at 68 euros, a slight premium to the worth of the agreed deal.