Japan's Renesas mulling acquisition of US chipmaker IDT

Renesas Electronics Corp. microcontrollers are arranged for a photograph in Soka City, Saitama Prefecture, Japan. Photographer:Kiyoshi Ota/Bloomberg

Renesas Electronics Corp., the second-biggest supplier of semiconductors used in cars, said it’s considering an acquisition of Integrated Device Technology Inc. to expand beyond the automotive sector.

The two companies will meet next week and Renesas plans to make a tender offer valued at about $6 billion, though prospects for an agreement are unclear, Japan’s Nikkei reported earlier Friday. Any deal will be funded with cash and loans, it added. The Japanese chipmaker later said in a statement that a deal with IDT was just one option under consideration and that nothing had been decided.

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