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Apple reportedly negotiates buy of Renesas Electronics' stake in display chip unit.


2 April 2014 - Apple Inc (NASDAQ:AAPL) is looking to buy the 55% stake held by Japan's Renesas Electronics Corp (TYO:67239 in Renesas SP Drivers, a designer of liquid crystal display chips for iPhones, according to an unsourced Nikkei report.

The paper said Apple is negotiating a deal worth some JPY50bn (USD482m/EUR349m), which will give it control over the Renesas Electronics' joint venture with Sharp Corp (TYO:6753) and Powerchip, which it hopes to wrap up by summer.

Sharp is also ready to sell its 25% in Renesas SP Drivers to Apple, if asked, the report said, adding that the US group aims to gain more control over key parts of the supply chain, as competitors are also focusing on image quality.

Country: Japan

Sector: Electronics

Target: Renesas SP Drivers

Buyer: Apple Inc

Vendor: Renesas Electronics Corp

Deal size in USD: 482m

Type: Corporate acquisition

Status: Speculation

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Publication:M & A Navigator
Date:Apr 2, 2014
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