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

Reuters
FILE PHOTO: Renesas Electronics Corp's logo is seen on its product at the company's conference in Tokyo, Japan, April 11, 2017. REUTERS/Toru Hanai/File Photo

(Reuters) - Japanese chip company Renesas Electronics Corp 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. http://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)