Obscure Chip M&A: Vishay Offers $1.6B for International Rectifier

August 15, 2008 at 5:23 pm PT

Can’t beat ‘em? Buy ‘em.

The world of obscure semiconductors was on the move today, as shares of International Rectifier (IRF) rose $3.67, or 20 percent, to $22.49 after the company received an unsolicited offer from Vishay Intertechnology (VSH) to buy IRF for $1.6 billion in cash, or $21.22 per IRF share. This is not the first time the companies have tangled. Since selling a business to Vishay in April 2007 for $50 million, IRF has been hit with claims by Vishay saying it had overpaid because the businesses it bought from IRF turn out not to be in the kind of shape Vishay thought they were when it did due diligence on the deal. Vishay was demanding its purchase price be knocked down by $20 million, and an additional $50 million in damages Vishay claims it suffered in the deal.

Read the rest of this post

Tagged with: Barrons, frontpage, International Rectifier, IRF, Tech Trader Daily, Tiernan Ray, Vishay International, VSH

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.