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Actionable news in ISIL: Intersil Corporation,

Intersil (ISIL) Stock Pops, Renesas Purchases for $3.2 Billion

NEW YORK (TheStreet) -- Shares of Intersil (ISIL) were advancing 9.31% to $21.60 in pre-market trading on Tuesday as the Milpitas, CA-based semiconductor company agreed to be purchased by the Japanese chip maker Renesas Electronics for $3.2 billion, or $22.50 per share, in cash.

The acquisition will boost Renesas' in the automotive-related semiconductor and Internet of Things markets, the company said in a statement this morning.

Intersil manufactures analog chips, which process signals such as sound, light and temperature before converting them into digital signals...


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