Japan’s Renesas in talks to buy U.S. chipmaker Maxim: CNBC

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(Reuters) – Japanese chip company Renesas Electronics Corp (6723.T) is in talks to acquire U.S. chipmaker Maxim Integrated Products Inc (MXIM.O) in a deal that could be valued up to $20 billion, CNBC reported on Monday.

A deal is not imminent and one may not happen, CNBC said. cnb.cx/2nrkjIe

Neither company was immediately available for comment when contacted by Reuters.

Maxim’s shares ended 12.3 percent higher at $66.27 on the Nasdaq on Monday following the report.

Reporting by Munsif Vengattil in Bengaluru; Editing by Sai Sachin Ravikumar