Dialog confirms – in ‘advanced discussions’ with Renesas
The UK-based semiconductor manufacturer has confirmed recent media speculation saying that it is in advanced discussions to sell the company to Japanese Renesas Electronics.
Dialog said on Sunday that it is negotiating with Renesas regarding a possible all cash offer of EUR 67.50 per Dialog share. “A further announcement will be made as and when appropriate. There can be no certainty that any firm offer will be made for the Company, nor as to the terms on which any firm offer might be made,” the company said in a statement. The UK semiconductor company added that Renesas is required by regulation to either announce a firm intention to make an offer for the company by 5 pm London time on March 7. Or make clear that it does not intend to make an offer. The company also emphasised that the statement was made by Dialog without the consent of Renesas.