Transphorm Shares Surge Premarket on Takeover by Renesas
January 11 2024 - 6:24AM
Dow Jones News
By Colin Kellaher
Transphorm shares jumped 30% in premarket trading Thursday after
the maker of gallium-nitride semiconductors agreed to be acquired
by Japanese chip maker Renesas Electronics for around $339
million.
Under the agreement, Transphorm shareholders will receive $5.10
a share in cash, a roughly 35% premium to Wednesday's closing price
of $3.79 for the Goleta, Calif., company.
The deal is slated to close in the second half of the year.
Transphorm shares were recently up 30% to $4.93 in premarket
trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 11, 2024 06:09 ET (11:09 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.