Investing.com– Shares of fell on Monday after said it was considering withdrawing its acquisition offer.
Denso said it had not secured Rohm’s consent for the proposed takeover and was assessing multiple options, including a potential withdrawal, after negotiations stalled.
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Tokyo-listed Rohm shares slumped as much as 16% on Monday. They traded 9% lower at 3,449.0 yen as of 01:33 GMT.
Denso shares climbed more than 3%.
The proposed deal, first disclosed in March, was valued at about $8.3 billion and would have seen Denso acquire a controlling stake in the Kyoto-based chipmaker.
Denso, a key supplier to Toyota (TYO:7203), already holds roughly a 5% stake in Rohm and has maintained a long-standing partnership with the company, including joint development of automotive semiconductors.
Rohm, however, has been weighing alternative strategies, including collaboration with other domestic players such as Toshiba and Mitsubishi Electric, as Japan pushes for consolidation in its fragmented chip sector.