December 12, 2018

December 12, 2018

Subscribe to Latest Legal News and Analysis

December 11, 2018

Subscribe to Latest Legal News and Analysis

December 10, 2018

Subscribe to Latest Legal News and Analysis

Upcoming/New CFIUS Filing: Renesas Electronics and Integrated Device Technology

Status Update:  Upcoming/New Filing

Acquirer:  Renesas Electronics Corp. (Japan)

Acquired:  Integrated Device Technology, Inc. (US)

Value:  Approx. US$6.7 Billion

Industry:  Semiconductors


On September 10, 2018, Integrated Device Technology, Inc., a Delaware corporation that produces semiconductor devices for communications, computing, and consumer electronic markets, entered into a merger agreement with Renesas Electronics Corporation, a Japanese supplier of advanced semiconductor solutions.  (See Integrated Device Technology, Inc., Form 8-K, Sept. 11, 2018, SEC Filing.)  Integrated Device Technology produces “analog mixed-signal products including sensors, high performance interconnect, RF & optical and wireless power,” that will “enable Renesas to create growth in expanding data economy fields and to further strengthen its presence in the industrial and automotive segments.”  (Press Release, Integrated Device Technology, Inc., Form 8-K, Ex.-99.1, Sept. 11, 2018, SEC Filing.)  Filing a Notice and obtaining CFIUS approval is a condition for closing the merger.  (See Section 7.1(d), Agreement and Plan of Merger, Integrated Device Technology, Inc., Form 8-K, Ex.-2.1, Sept. 11, 2018, SEC Filing.)  Renesas recently completed the CFIUS process for its acquisition of Intersil Corp., another US based semiconductor company.  (See Trade Practitioner blog post on this transaction here.)

© Copyright 2018 Squire Patton Boggs (US) LLP

TRENDING LEGAL ANALYSIS


About this Author

We employ a comprehensive approach when it comes to our International Trade practice. We focus on global import and export compliance, international trade policy and market access and trade remedies/defense. Our lawyers practice international trade law in almost every country where we have an office, and our full-time practitioners operate out of our Washington DC, London and Brussels offices.

We offer a “one-stop” service encompassing international trade compliance and policy acumen to make necessary judgments while operating effectively in a...

202-626-6234