Japan’s Renesas Electronics said on Monday that it was in talks with UK’s Dialog Semiconductor to potentially acquire the firm.
Dialog previously supplied power management IC to Apple. But the company saw sales decline starting in 2019 after Apple began using its own chips. Dialog was in talks with STMicroelectronics last year for a possible sale but the talks collapsed.
Renesas acquired Intersil in 2016 and IDT in 2018.
Renesas is attempting to buy Dialog for US$6 billion in an all-cash deal, according to Reuters.
The cash offer of 67.50 euros per share for Dialog would represent a 20% premium to its closing stock price on Friday of 56.12 euros, when it had a market capitalization of around 4.3 billion euros (US$5.2 billion)
The pair had said nothing was finalized as of yet.
Dialog and Renesas has been collaboration partners for over ten years. Last year in August, they announced a collaboration in developing a new automotive computing platform.