Japanese automotive chipmaker Renesas Electronics Corp is in talks to acquire U.S. chipmaker Maxim Integrated Products in a deal that could be valued up to $20 billion, CNBC reported. A deal is not imminent and one may not happen, CNBC said. A spokesman at Renesas declined to confirm or deny the report, saying the company continues to explore various options for growth but that nothing had been decided.
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Maxim was not immediately available for comment. Shares in the San Jose, California-based company ended up 12.3 percent at $66.27 on the Nasdaq on Monday after the report. In 2016, Renesas beat out rival suitor Maxim in a deal to buy U.S. chipmaker Intersil Corp for $3.2 billion, an all-cash deal that bolstered the Japanese group's efforts to refocus the company around automotive chips.
Renesas, created from the semiconductor units of several Japanese companies, has amassed a significant war chest since a state fund and key clients bailed it out after the Fukushima earthquake in 2011.
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