KKR Reportedly Leading $2.5B Bailout Of Chip Maker Renesas

Law360, New York (August 28, 2012, 9:26 PM EDT) -- Kohlberg Kravis Roberts & Co. LP has reportedly approached the top shareholders of Japan's Renesas Electronics Corp. with an offer to essentially double an existing 100 billion yen (US$1.27 billion) bailout package for the struggling chip maker, according to news out of Japan on Tuesday.

The private equity heavyweight proposes to take control of Renesas from NEC Corp., Hitachi Ltd. and Mitsubishi Electric Corp., which collectively own about 90 percent of the chip maker, by purchasing 100 billion yen worth of new Renesas shares through a...
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