German chipmaker Infineon Technologies AG said on Wednesday it would buy Silicon Valley-based International Rectifier Corp. in a $3 billion all-cash deal that would strengthen Infineon’s regional presence and expand its economic scale in the power management technology business.
Infineon would fund the bulk of the purchase using its $2 billion line of credit. The transaction—Infineon’s largest ever—is expected to be completed in late 2014 or early 2015, pending regulatory and company board approvals.
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