Eu gives all clear for NEC / Renesas merger
NEC Electronics has gained approval from European Union competition regulators to merge with Renesas Technology, creating the world's No. 3 semiconductor maker behind Intel and Samsung Electronics.
The European Commission, competition watchdog of the 27 country European Union, said the transaction would not impede competition in Europe and the new company would continue to face effective competitors.
The EU executive said: "The proposed merger would not give rise to competition concerns in the markets for microcontrollers, sram, lcd drivers and other types of semiconductors." NEC Electronics will absorb Renesas after raising a total of 200 billion yen from their parent firms.
