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Aug. 21, 2016, 10:35 p.m. EDT

Renesas in talks for chip maker Intersil for $3 billion

Purchase would bolster Japanese chip maker

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By Takashi Mochizuki


AFP/Getty Images
Employees of Renesas Electronics work at the company's Naka wafer fabrication factory in Hitachinaka, Japan.

TOKYO — Japanese chip maker Renesas Electronics Corp. on Monday said it is in talks to buy U.S.-based chip maker Intersil Corp.  , a move that could strengthen the Japanese company’s business of making semiconductor components for cars.

“We are considering various options for growth including” a possible deal with the U.S. company, Renesas said in a statement.

According to a person familiar with the discussions, the deal, if reached, would be valued at around 300 billion yen ($3 billion).

The possible takeover, which was reported earlier Monday by the Japanese business daily Nikkei, would represent a step by Renesas /zigman2/quotes/203872935/delayed JP:6723 -4.66%   to stay ahead in an industry that has seen considerable recent consolidation.

An expanded version of this report appears on WSJ.com.

/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 736.00
-36.00 -4.66%
Volume: 11.15M
Feb. 25, 2020 3:00p
P/E Ratio
576.71
Dividend Yield
N/A
Market Cap
¥1320.35 billion
Rev. per Employee
¥36.92M
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