BERLIN (Reuters) – Dialog Semiconductor, whose customers include Apple, confirmed on Sunday that it is in advanced talks with Renesas Electronics Corporation about a potential sale, valuing it at about $ 6 billion.
The talks focused on a possible cash offer of 67.50 euros per share within the British Dialog, chip designer, the company said in a statement, representing a premium of 20% compared to Friday’s closing price of 56 , 12 euros, when it had a market capitalization of around 4.3 billion euros (5.2 billion dollars).
“An additional announcement will be made as appropriate. There can be no certainty that a firm offer will be made for the company, nor in terms of the conditions under which any firm offer could be made “, she added.
The Frankfurt-listed dialogue said Renesas is required by regulation to announce either its firm intention to make an offer by 1700 GMT on March 7 or to say it does not intend to do so.
Renesas could not be reached for comment.
The two companies agreed to expand their collaboration in August.
Last month’s dialogue provided an optimal revenue forecast for the fourth quarter, due to strong demand for 5G phones and tablets.
($ 1 = € 0.8304)
Written by Paul Carrel; Additional reporting by Makiko Yamazaki; Edited by Maria Sheahan and Alexander Smith