Renesas denies Maxim acquisition talks

January 31, 2018 //By Peter Clarke
Renesas denies Maxim acquisition talks
Japanese chip company Renesas Electronics Corp. has denied it is in talks to acquire analog and mixed-signal chip company Maxim Integrated Products Inc. (San Jose, Calif.). The original poster of the acquisition talks story – CNBC – continues to assert that there are talks.

Renesas, which evolved from the combination of the chip interests of Hitachi, Mitsubishi and NEC has increasingly focused on automotive electronics and microcontrollers. Automotive is also an area where analog, mixed-signal and PMIC maker Maxim has focused suggesting some synergy.

Renesas market capitalization stands at $19.2 billion while Maxim's stands at $14.5 billion, which would make the latter hard for Renesas to digest. A full acquisition deal could be valued at up to $20 billion when a suitable premium for Maxim is factored in. But while Renesas is denying that it is "in talks for a possible acquisition" there remains the possibility that some other deal could be struck. Renesas may be aiming to pick off automotive product lines or divisions while leaving other parts of Maxim out of a deal.

CNBC put the caveat on its own story that a deal is not imminent and may not go through at all.

Renesas beat out Maxim to acquire Intersil in 2017 (see Renesas agrees to pay $3.2 billion for Intersil ). Maxim was almost acquired itself in 2016 but two suitors both passed on the deal (see Report: Analog, TI both pass on Maxim purchase ).

Related links and articles:

www.renesas.com

www.maximintegrated.com

News articles:

Maxim goes on a diet

Renesas agrees to pay $3.2 billion for Intersil

Report: Analog, TI both pass on Maxim purchase


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