MALVERN, Pa. (AP) -- Chip maker Vishay Intertechnology says it offered to buy power management chip maker International Rectifier Corp. for $1.6 billion in cash.
Malvern, Pa.-based Vishay Intertechnology Inc. says the offer would be for $21.22 per share, which is about a 13 percent premium over International Rectifier's Thursday closing price of $18.82.
International Rectifier is based El Segundo, Calif.
