A Renesas Electronics Corp. central processing unit (CPU) board and microcontrollers.

Kiyoshi Ota | Bloomberg | Getty Photographs

Renesas Electronics Corp and Dialog Semiconductor stated on Monday they’d agreed for the Japanese chipmaker to purchase the Frankfurt-listed chip designer for 4.9 billion euros ($5.90 billion) in money.

Renesas, one of many world’s greatest auto chip makers, has provided 67.50 euros a share for the Apple Inc provider, representing a 20% premium to Friday’s closing value and a 52% premium to a weighted three-month common.

Dialog stated in a press release that the agreed deal represented a “compelling alternative” for its shareholders. Its board of administrators would unanimously suggest the supply.

Dialog shares had been 21% increased in early Frankfurt buying and selling at 68 euros, a slight premium to the value of the agreed deal.