Dialog Semiconductor, whose customers include Apple, confirmed Sunday that it was in advanced talks with Renesas Electronics Corporation about a possible sale and valued it at about $ 6 billion.
The discussions focused on a possible cash offer of 67.50 euros per share in UK-based disk designer Dialog, the company said in a statement. This represents a 20% premium to Friday’s share price of 56.12 euros when it reached a market capitalization of approximately 4.3 billion euros ($ 5.2 billion).
A further announcement will be made as and when appropriate. There can be no certainty that a fixed offer will be made for the company, nor with regard to the conditions on which a fixed offer can be made possible, ” he added.
The Dialogue listed in Frankfurt said that Renesas is required by regulation to make a firm intention to announce an offer before 1700 GMT on March 7, or that he does not intend to do so.
Renesas could not be immediately reached for comment.
The two companies agreed to expand their collaboration in August.
Dialog made an optimal forecast for the fourth quarter last month due to strong demand for 5G phones and tablets.
($ 1 = 0.8304 euros)
Written by Paul Carrel; Additional reporting by Makiko Yamazaki; Edited by Maria Sheahan and Alexander Smith