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.
Target: Renesas SP Drivers
Buyer: Apple Inc
Vendor: Renesas Electronics Corp
Deal size in USD: 482m
Type: Corporate acquisition
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|Publication:||M & A Navigator|
|Date:||Apr 2, 2014|
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