Renesas gets CFIUS approval for $6 billion IDT buy

March 25, 2019 //By Peter Clarke
Renesas gets CFIUS approval for $6 billion IDT buy
Japan's Renesas Electronics Corp. has said it has received approval from the Committee on Foreign Investment in the United States (CFIUS) to acquire Integrated Device Technology Inc., a supplier of analog mixed-signal products, including sensors, connectivity and wireless power ICs.

CFIUS ruled that there are no unresolved national security concerns with respect to the transaction.

Antitrust clearance decisions have previously been obtained for the transaction from antitrust authorities in China, Germany, Hungary, South Korea and the United States. IDT stockholders have previously voted to adopt the merger agreement and approve the transaction at a meeting held on January 15, 2019.

The deal is now expected to complete on March 30 in Japan and March 29 in the United States.

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