Dialog Semiconductor To Be Bought By Japan's Renesas Electronics In €4.89 Bln Deal

(RTTNews) - Dialog Semiconductor Plc (DLGNF.PK, DLGS) announced Monday that it has reached agreement 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 approximately 4.886 billion euros.

The per share price represents a premium of approximately 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 announcement.

The acquisition is expected to be implemented by means of a UK Scheme of Arrangement. The deal will be conditional on approval at a shareholder meeting of Dialog and at 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 effective in the second half of 2021 subject, among other things, to the satisfaction or waiver of the conditions.

In Japan, Renesas shares were trading at 1,203 yen, down 3.61 percent.