8/23/2016 01:00 AM EDT
MADISON, Wis. — The Japanese economic newspaper Nikkei, reported early Monday that Renesas Electronics is “in the final stages of negotiations to acquire Intersil.”
Neither Renesas nor Intersil is confirming the report at this time. When reached by EE Times, both companies declined to comment.
The Japanese newspaper reported that Renesas “is expected to spend up to 300 billion yen ($3 billion)” on the deal.
The genesis of the deal is believed to be Renesas’ desire to bolster its position in the global automotive chip market.
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