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Japanese Chipmaker Renesas Announces $3.2B Purchase of Intersil

Japanese chipmaker Renesas Electronics (RNECY) announced it will wholly acquire Intersil (ISIL) in a bid to boost its products offerings in the areas of automotive, industrial and Internet of Things, as well as expanding its geographical footprint.

The Tokyo-based Renesas will acquire all of U.S. rival Intersil's outstanding shares for about $3.2 billion, or $22.5 per share in cash. This represents a 43.9% premium over Intersil's closing share price on Aug. 19, just before the company...


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