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SEC filingSiTime Corporation announced the expiration of the HSR Act waiting period for its $1.5B acquisition of Renesas timing assets, satisfying one closing condition.
SiTime Corporation announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired on May 8, 2026, for its planned acquisition of certain timing business assets from Renesas Electronics America Inc. This expiration satisfies one of the conditions to closing the acquisition, which was originally announced on February 4, 2026. The total consideration is approximately $1.5 billion in cash and 4,130,644 shares of SiTime common stock. To fund the cash portion, SiTime has a commitment from Wells Fargo for up to $900 million in a 364-day senior secured bridge loan facility, though the closing is not conditioned on the availability of this financing. The remaining conditions to closing include the accuracy of each party's representations and warranties and the performance of obligations under the Asset Purchase Agreement. The acquisition is a significant strategic move for SiTime, expanding its presence in the timing solutions market.