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Renesas announce conclusion of final regulatory review

18th August 2021
Kiera Sowery
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Renesas and Dialog Semiconductor, a provider of battery and power management, WiFi,  Bluetooth low energy and Industrial edge computing solutions, are pleased to announce that the Taiwan Fair Trade Commission has waived its jurisdiction to review the recommended all-cash acquisition of Dialog Semiconductor by Renesas.

The relevant authorities in Germany, the People’s Republic of China and the US have already issued the anti-trust and/or foreign investment clearances, have allowed the applicable waiting period to expire or have waived jurisdiction, as appropriate. At the Dialog General Meeting and at the Court Meeting held on 9th April, 2021, all resolutions proposed in connection with the scheme were duly passed by the requisite majorities and, accordingly, the acquisition has been approved by Dialog Shareholders.

The scheme remains subject to the satisfaction or (if capable of waiver) waiver of certain remaining conditions set out in the scheme document, including the court’s sanction of the scheme at the court sanction hearing and the delivery of the court order to the registrar of companies. The current expected timetable of principal events for the implementation of the scheme is set out in the announcement published jointly by Renesas and Dialog Semiconductor via a Regulatory Information Service. In particular, please note that the court sanction hearing has been scheduled for 27th August, 2021 (BST) and the closing date of the acquisition is expected to be on 30th August, 2021.

Renesas does not intend to implement significant changes to its organisation at the time of the closing of the acquisition. A further announcement will be made upon 30th August, 2021, 31st August, 2021 (JST) when the acquisition is complete.

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