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Infineon denies paying too much for International Rectifier

21
Aug
2014

Infineon brushed off concern that it was spending too much to buy U.S.-based International Rectifier, saying the deal promised a wealth of benefits for the German chipmaker. Infineon announced the $3 billion cash deal late on Wednesday. The price was 51 percent above International Rectifiers market value before it was announced and Infineon shares fell in after-hours trading. The premia (in the chip sector) are high, but the 50 percent we are offering is pretty much in the middle of the bandwidth in this space, Infineon finance chief Dominik Asam told analysts during a conference call on Thursday.

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