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FRANKFURT Aug 20 German chipmaker Infineon
announced on Wednesday that it had agreed to buy
U.S.-based International Rectifier for about $3 billion
The Munich-based group said the purchase price of $40 per
share represented a 48 percent premium over the average share
price of International Rectifier over the past three months and
of 51 percent over Tuesday's closing share price.
Infineon said it would fund the transaction using cash on
hand and fully underwritten credit facilities totalling 1.5
billion euros ($2.0 billion).
A person close to the negotiations had told Reuters earlier
that Infineon was poised to strike a deal to buy a U.S.
(1 US dollar = 0.7530 euro)
(Reporting by Maria Sheahan; Editing by Victoria Bryan)