Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Illustration: Rebecca Zisser/Axios
Japan's Renesas Electronics agreed to buy U.S. chipmaker Integrated Device Technology (NSE: IDTI) for $6.7 billion, or $49 per share.
Why it's a big deal: Because it's an interesting test for U.S. and Chinese antitrust authorities, both of which have become reluctant to approve global semiconductor mergers.
Renesas has said it isn't worried, pointing to a lack of product overlap, but acquirers never express concern on announcement day.
"Renesas has been keen to get its hands on IDT’s know-how in analog semiconductors for wireless networks and sensors — expertise crucial to develop autonomous driving and connected car technology."
Go deeper: Computer chips are still "Made in the USA"