Date: 28/07/2009

NEC and Renesas merging process is time delayed by 1 month

Japanese electronics semiconductor joints NEC Electronics, Renesas, Hitachi, and Mitsubishi have decided to postpone the conclusion of a definitive agreement to integrate business operations at NEC Electronics and Renesas until the end of August, which had originally been outlined at the end of July.

The reason for the delay is it's taking more time to complete due-diligence on the companies' assets including the manufacturing and sales sites worldwide. This could be one of the largest merger in semiconductor industry and is expected to bring some new market dynamics to the recovering semiconductor market.