BERLIN (Reuters) – Dialog Semiconductor, among its customers like Apple, confirmed on Sunday that it was in advanced talks with Renesas Electronics Corporation about a possible sale, valuing it at about $ 6 billion.
Discussions focused on a possible cash offer of 67.50 euros per share to British chip designer Dialog, the company said in a statement, representing a 20% premium to Friday’s closing price of 56, 12 euros, when it had a capitalization of around 4.3 billion euros (5.2 billion dollars).
“A new announcement will be made when appropriate. There is no certainty that any firm offer will be made for the company, nor about the terms on which no firm offer can be made,” he added.
Dialog, which is listed in Frankfurt, said Renesas is required by regulation to announce a firm intention to make an offer for 1700 GMT on March 7, or to say it has no intention of doing so.
Renesas could not be contacted immediately for comment.
The two companies agreed to expand their collaboration in August.
The dialogue last month offered an optimistic fourth-quarter revenue forecast due to strong demand for 5G phones and tablets.
($ 1 = $ 0.8304)
Written by Paul Carrel; Additional reports from Makiko Yamazaki; Edited by Maria Sheahan and Alexander Smith