Renesas (RNECY.PK) says it will receive ¥150B ($1.8B) from a government-backed fund and...
Monday, December 10, 2012, 9:34 AM ETRenesas (RNECY.PK) says it will receive ¥150B ($1.8B) from a government-backed fund and manufacturers to help stay in business, and expects an additional ¥50B from the fund in time. A November Nikkei report indicated Renesas would get $2.2B in exchange for a $2.2B stake and a commitment to restructure. Any downsizing efforts could provide microcontroller rivals such as ATML, FSL, NXPI, and MCHP a chance to gain share.
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