Business Insider reports:Dialog is being sold to a Japanese chipmaker in what the company has described as a ‘compelling opportunity’ for its shareholders. The company has historically depended on Apple orders for power management chips for three-quarters of its sales, but has been working hard on moving into new markets as this business came under threat.
"Japanese chipmaker Renesas Electronics Corp has agreed to buy Dialog Semiconductor, an Apple supplier, for 4.9 billion euros ($5.9 billion) in cash.
Renesas, one of the world’s biggest auto chip makers, has offered 67.50 euros a share for Dialog, representing a 20% premium to Friday’s closing price and a 52% premium to a weighted three-month average. Dialog is listed in Frankfurt and headquartered in the UK […]
Dialog shares traded 16% higher in Frankfurt at 65.30 euros, just shy of the agreed sale price. The Anglo-German chip designer confirmed on Sunday that it had received an offer from Renesas in response to news reports it was a takeover target."