Renesas and Altium Announce the Conclusion of the Regulatory Review for Renesas' Proposed Acquisition of Altium

Find the Latest SoC Solutions
for... Automotive... IoT... Security... Audio... Video

TOKYO, Japan, July 2, 2024 (JST) | San Diego, California, U.S.A., July 1, 2024 (PDT)― Renesas Electronics Corporation ("Renesas", TSE: 6723), a premier supplier of advanced semiconductor solutions, and Altium Limited ("Altium", ASX: ALU), a global leader in electronics design systems received notification from the Committee on Foreign Investment in the United States ("CFIUS") on July 1, 2024 (PDT) that the investigation of the companies' proposed merger transaction by way of a scheme of arrangement (the "Scheme") is complete and that there are no unresolved national security concerns with respect to the transaction.

www.renesas.com/us/en, Jul. 02, 2024 – 

The approval by CFIUS was the last outstanding regulatory authorization required to complete the transaction. All regulatory approvals required for the Scheme in Australia, Germany, Turkey and the United States have been satisfied.

The Scheme remains subject to the satisfaction or (if capable) waiver of certain remaining conditions as set out in the Scheme Booklet, including the meeting of Altium shareholders ("Scheme Meeting") which will be held at 9:00am on July 12, 2024 (AEST), at which Altium shareholders will vote on the proposed Scheme. If the Scheme is approved by the requisite majority of Altium shareholders, there will be the second court hearing at the Supreme Court of New South Wales ("Court") on July 18, 2024 (AEST) to consider whether to approve the Scheme.

The implementation date of the Scheme is expected to be August 1, 2024 (JST/AEST), subject to customary closing conditions. An announcement will be made on August 1, 2024 (JST/AEST) when the acquisition is implemented.

All dates following the date of the Scheme Meeting are indicative only and, among other things, are subject to all necessary approvals from the Court.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) ("Renesas") delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.

About Altium

Altium Limited (ASX: ALU) is a global software company headquartered in San Diego, California, that is accelerating the pace of innovation through electronics. For over 30 years, Altium has delivered software to maximise the productivity of PCB designers and electrical engineers. From individual inventors to multinational corporations, more PCB designers and engineers choose Altium software than any other tool to design and realize electronics-based products.

click here to read more...

 Back