Law360, New York (September 16, 2009, 5:50 PM ET) -- NEC Electronics Corp. and Renesas Technology Corp. said they will receive an injection of 200 billion yen ($2.2 billion) from their parent companies, NEC Corp., Hitachi Ltd. and Mitsubishi Electric Corp., as they form a giant semiconductor company.
In an announcement Wednesday Japan-based NEC Electronics and Renesas said they had signed a definitive agreement to merge. Renesas, a joint venture between Hitachi and Mitsubishi, and NEC first signaled their intent to merge in April 2009 and said they hope to finish the deal by April 1,...
NEC, Renesas Plan To Merge With Cash Infusion
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