Renesas has said the two companies will meet this week and that Renesas plans to discuss an offer of about $6 billion. Renesas has made a number of acquisitions in recent years but this would likely be an attempt to reduce its dependence on the automotive market and improve its position in areas such as industrial, healthcare and communications.
Renesas reportedly said in a statement that a deal with IDT was one option under consideration.
In 2017 Renesas paid about $3.2 billion for Intersil Corp., a maker of battery and charging control ICs (see Renesas agrees to pay $3.2 billion for Intersil).
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