© BloombergDialog counts Apple among its client base - Bloomberg
Dialog Semiconductor, a UK chip designer that counts Apple among its customers, is in "advanced talks" to sell the business to a Japanese giant for ?4.9bn (£4.19bn).
Tokyo-based semiconductor firm Renesas Electronics, which is valued at around $20.5bn (£14.62bn), has made an all-cash offer of ?67.50 per share, which is 20pc higher than Dialog's close price on Friday of ?56.12.
Dialog, based in Reading but listed in Germany, has reported a 25pc increase in its share price since the start of the year, Bloomberg reported, citing strong demand for Apple's iPhone 12 line-up and a rumoured takeover.
In a statement yesterday, Dialog confirmed it was in "advanced discussions" with the Japanese firm but insisted that an official offer had yet to be made.
"A further announcement will be made as and when appropriate," Dialog said in a statement.
Dialog has been holding discussions with a number of companies over a potential buyout including STMicroelectronics, according to reports.
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