Tokyo, April 28 (Jiji Press)–Japanese auto parts maker Denso Corp. said Tuesday that it will withdraw its proposal to acquire domestic chipmaker Rohm Co. Denso said in a statement that the company “has not obtained the support of Rohm’s board of directors and special committee with respect to the proposal.” The focus of a reorganization of the country’s power semiconductor industry is now expected to shift to merger talks involving Rohm, Toshiba Corp. and Mitsubishi Electric Corp. “We can’t envision a scenario anymore to improve the corporate value of both companies even if we continue discussions,” Denso President and CEO Shinnosuke Hayashi said at a press conference. He added that Denso would continue business cooperation and personnel exchanges with Rohm. END [Copyright The Jiji Press, Ltd.]
Denso Retracts Proposal to Acquire Rohm
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