DGAP-Adhoc Dialog Semiconductor Plc.: Statement regarding press speculation and receipt of proposal from Renesas
DGAP-Ad-hoc: Dialog Semiconductor Plc. / Key word(s): Mergers & Acquisitions
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE NOR AS TO THE TERMS ON WHICH ANY FIRM OFFER MIGHT BE MADE.
DISCLOSURE OF INSIDE INFORMATION ACCORDING TO ARTICLE 17 MAR OF THE REGULATION (EU) NO. 596/2014.
FOR IMMEDIATE RELEASE
7 February 2021
Dialog Semiconductor plc
Statement regarding press speculation and receipt of proposal from Renesas
Dialog Semiconductor plc ("Dialog" or "the Company") notes the recent press speculation and confirms that it is in advanced discussions with Renesas Electronics Corporation ("Renesas") regarding a possible all cash offer of €67.50 per Dialog share for the entire issued, and to be issued, share capital of Dialog.
A further announcement will be made as and when appropriate. There can be no certainty that any firm offer will be made for the Company, nor as to the terms on which any firm offer might be made.
In accordance with Rule 2.6(a) of the Code, Renesas is required, by no later than 5.00 p.m. (London time) on 7 March 2021, being 28 days after today's date, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel (the "Panel") in accordance with Rule 2.6(c) of the Code.