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Japan Fund And Firms Including Honda Motor Co., Ltd. Aim To Acquire Renesas Electronics Corp For $2.6 Billion-Reuters

Saturday, 13 Oct 2012 01:07am EDT 

Reuters reported that a Japan government fund is expected to partner with about 10 companies in hopes of buying Renesas Electronics Corp in a 200 billion yen ($2.55 billion) deal, the Nikkei business daily said. The taxpayer-funded Innovation Network Corp plans to invest 150 billion yen to acquire two-thirds of Renesas' shares on a voting rights basis, the Japanese newspaper said on Saturday. A consortium of Japanese companies including Canon Inc., Denso Corporation, Honda Motor Co., Ltd., Nikon Corporation, Nissan Motor Co., Ltd., Panasonic Corporation, Toyota Motor Corp and Yaskawa Electric Corporation, are also expected to invest a total of nearly 50 billion yen, the Nikkei said. German industrial group Robert Bosch GmbH is also considering an investment in the chipmaker, the Nikkei added. 

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