FRANKFURT Aug 21 German chipmaker Infineon
looked at a "whole bunch" of possible acquisition
targets before settling on International Rectifier, for
which it announced a bid this week, Infineon's finance chief
"We approached another (target) but did not converge on
price. And for others we did not want to pay the high premiums,"
Dominik Asam told analysts during a conference call on Thursday.
Infineon said on Wednesday it had agreed to buy
International Rectifier for about $3 billion in cash, at a 48
percent premium over the California-based firm's three-month
average share price.
"We got comfortable with that (premium) only because we know
how we can get to the profitability that will warrant that kind
of a premium," Asam said.
(Reporting by Maria Sheahan; Editing by Jonathan Gould)