US committee approves Renesas' takeover of Intersil

February 22, 2017 // By Peter Clarke
The Committee on Foreign Investment in the United States (CFIUS), the US government committee that has thwarted some recent takeover bids, has no problem with acquisition of Intersil Corp. by Japan's Renesas Electronics Corp.

Semiconductor vendor Renesas said it has received notification from CFIUS that the investigation of the merger transaction is complete and that there are no unresolved US national security concerns with respect to the transaction.

Renesas added that as a result it has now all the necessary regulatory approvals for the acquisition which is expected to close on Friday February 24, 2017.

In the recent past CFIUS has effectively blocked the takeover of chip manufacturing equipment company Aixtron SE (Herzogenrath, Germany) by China-controlled Grand Chip Investment GmbH and may yet disapprove of the takeover of Lattice Semiconductor by a US-based but China funded venture capital firm.

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Renesas agrees to pay $3.2 billion for Intersil