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Scale of due-diligence work delays NEC Electronics and Renesas merger
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According to NEC Electronics and Renesas Technology, a delay in the expected definitive agreement to a merger has occurred due to the scale of the due-diligence work required on the companies’ assets, including manufacturing facilities and sales sites worldwide. The companies had originally expected an agreement to be made in July, 2009, however this has now been postponed to the end of August, 2009.
The companies announced the merger in April, 2009. Negotiations regarding the merger are said to be ongoing.