EESage.com

25 Jun '12, 5pm

White knight or asset stripper?: Reports are coming out of Japan that private equity company Kohlberg Kravis Rob...

Reports are coming out of Japan that private equity company Kohlberg Kravis Roberts & Co. (KKR) LP is being asked to invest in struggling Japanese chip company Renesas Electronics Corp. to help it raise more than $1 billion for use executing a major restructuring that could see Renesas cut 30 percent of its workforce. Renesas Electronics has made losses since it was formed as a merger of the semiconductor interests of NEC and Renesas Technology in 2010. It can be argued that a radical restructuring of the large chipmaker is overdue. Renesas Technology was itself the merger of the chip making interests of Hitachi Ltd. and Mitsubishi Electric. Indeed it can be argued that chip companies in the United States and Europe have already been through their necessary restructuring. But while Renesas may have been slow to change it has had other challenges to cope with. In the last f...

Full article: http://www.eetimes.com/electronics-news/4376040/White-kni...

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electronicsweekly.com 22 Jun '12, 1am

God help Renesas if the asset-strippers get their hands on it. Word is that American private equity companies KKR and Silv...