SiTime Completes Antitrust Review for Renesas Asset Acquisition
SiTime Corporation (SITM) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired at 11:59 p.m. Eastern Time on May 8, 2026, in connection with its pending acquisition of certain assets from Renesas Electronics America Inc., a subsidiary of Renesas Electronics Corporation (RNECY), pursuant to the previously announced Asset Purchase Agreement dated February 4, 2026. The expiration of the HSR Act waiting period satisfies a key condition to closing the acquisition. Completion of the acquisition remains subject to the satisfaction or waiver of other customary closing conditions. As previously announced, in connection with the acquisition, SiTime has obtained a financing commitment from Wells Fargo for up to $900 million to fund a portion of the cash consideration, in the form of a 364-day senior secured bridge loan facility. Subject to market conditions, SiTime may replace all or a portion of the Bridge Facility with bank or capital markets financing prior to the closing of the acquisition. The Closing is not conditioned on the availability of the Bridge Facility or any alternative financing.
