(RTTNews) – Dialog Semiconductor Plc (DLGNF.PK, DLGS) stated Monday that it has entered an arrangement on the terms of a recommended acquisition by Renesas Electronics Corp., a Japanese supplier of advanced semiconductor solutions, for 67.50 euros in cash per Dialog share. The offer price values Dialog at nearly 4.886 billion euros.
The per-share price signifies a premium of almost 20.3 percent to the Closing Price of 56.12 euros for each Dialog Share on February 5, being the last Business Day before the date of this report.
The acquisition is anticipated to be achieved utilizing a UK Scheme of Arrangement. The deal will be contingent on approval at a shareholder meeting of Dialog and a UK court meeting, as well as several regulatory approvals, including in, inter alia, Germany, the People’s Republic of China, Taiwan, and the United States.
The Scheme will become active in the second half of 2021 subject, among other things, to the fulfillment or waiver of the conditions.
In Japan, Renesas shares were trading at 1,203 yen, down 3.61 percent.
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