Japanese chipmaker Renesas is buying San Jose-based Integrated Device Technology in a cash deal worth $6.7 billion, the company confirmed late Monday. Shares of IDT jumped another 11 percent ahead of the opening bell on Tuesday. They’re up about 24 percent since late August, when details around the potential deal first emerged. Renesas will buy IDT for $49 per share in cash, largely financed through bank loans. The deal is subject to regulatory approval in Japan, the U.S. and other major markets. IDT…
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Japanese chip giant snaps up San Jose chipmaker IDT in $6.7B cash deal
