Intersil Corp. (ISIL) May Soon Be Bought For $3B

A person familiar with the situation has revealed that U.S. chipmaker Intersil Corp. may soon be bought by Japan’s Renesas Electronics Corp. for a price of around $3 billion.

The source has said that no agreement has been reached and that a deal may not even result from the discussions.

Shares of Intersil have gained 23% this year and the company now has a market value of over $2 billion.

Earlier this year, Renesas CEO Bunsei Kure has said that he would look overseas for research and development.

The company is said to be in final negotiations to acquire California-based Intersil.

Renesas said in a statement that the acquisition of a U.S. chipmaker is among several options the company is considering to expand, though it hasn’t made any final decisions.

Disclaimer: We have no position in Intersil Corp (NASDAQ: ISIL) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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