[ad_1]
BERLIN (Reuters) – Dialog Semiconductor, whose customers include Apple, confirmed on Sunday that it was in advanced talks with Renesas Electronics Corporation over a potential sale, valuing it at around $ 6 billion.
Discussions focused on a possible cash offer of € 67.50 per share in UK chip designer Dialog, the company said in a statement, representing a 20% premium over Friday’s closing price of 56, 12 euros, while it had a market capitalization of around 4.3 billion euros ($ 5.2 billion).
“Another announcement will be made if necessary. There can be no certainty that a firm offer will be made for the Company, nor as to the conditions under which a firm offer could be made, ”he added.
Dialog, listed in Frankfurt, said Renesas is required by regulation to announce a firm intention to make an offer by 5:00 p.m. GMT on March 7, or to say it has no intention of doing so.
Renesas could not be reached immediately for comment.
The two companies agreed to extend their collaboration in August.
Dialog last month gave an optimistic fourth quarter revenue forecast due to strong demand for 5G phones and tablets.
(1 USD = 0.8304 euros)
Writing by Paul Carrel; Additional reporting by Makiko Yamazaki; Edited by Maria Sheahan and Alexander Smith
[ad_2]
Source link