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

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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.