Infineon cash flow covering International Rectifier integration
FRANKFURT (Reuters) - German chipmaker Infineon said its cash flow would cover the costs to integrate International Rectifier, the U.S. chipmaker it is buying.
"We expect that the free cash flow that comes with the transaction will immediately cover the restructuring costs. So it's not like we will go through a black hole of cash drain," finance chief Dominik Asam told journalists during a conference call on Wednesday.
Merger-shy Infineon earlier said it had agreed to buy International Rectifier for about $3 billion in cash in its biggest-ever acquisition.