Benzinga | Feb 7, 2021 02:45PM EST

Dialog Semiconductor Confirms Advanced Discussions with Renesas Electronics Corporation Regarding Possible 67.50/Dialog Share Cash Offer

Dialog Semiconductor plc ("Dialog" or "the Company") notes the recent press speculation and confirms that it is in advanced discussions with Renesas Electronics Corporation ("Renesas") regarding a possible all cash offer of 67.50 per Dialog share for the entire issued, and to be issued, share capital of Dialog.

A further announcement will be made as and when appropriate. There can be no certainty that any firm offer will be made for the Company, nor as to the terms on which any firm offer might be made.

In accordance with Rule 2.6(a) of the Code, Renesas is required, by no later than 5.00 p.m. (London time) on 7 March 2021, being 28 days after today's date, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel (the "Panel") in accordance with Rule 2.6(c) of the Code.

This statement is being made by Dialog without the consent of Renesas.