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Electronics Production | July 28, 2009

NEC Electronics and Renesas postpone integration of businesses

NEC Electronics, Renesas Technology, NEC Corporation, Hitachi and Mitsubishi Electric decided to postpone the conclusion of a definitive agreement to integrate business operations at NEC Electronics and Renesas until the end of August, which had originally been outlined at the end of July.
As announced on April 27, 2009, the companies have been in negotiations to integrate business operations at NEC Electronics and Renesas. However, due to delay in completing due-diligence on the companies' assets including the manufacturing and sales sites worldwide, the companies have decided to postpone the contract day. The companies will continue to engage in proactive negotiations aiming to reach a definitive agreement by the end of August.
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