Transphorm Shares Surge Premarket on Takeover by Renesas
Provided by
Dow Jones
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)
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