Japanese auto parts giant Denso is reportedly withdrawing its offer to acquire chipmaker Rohm. The move comes after failing to secure the chipmaker's support for the potential tie-up, according to Nikkei.
Denso, a key supplier to Toyota, had made the bid last month. The acquisition would have bolstered Denso's control over power-management chips crucial for electric vehicles and data centers.
Rohm, known for its high-efficiency silicon carbide power semiconductors, recently began discussions with Toshiba and Mitsubishi Electric regarding the integration of their power semiconductor businesses. Last year, Denso and Rohm had announced a strategic partnership focused on semiconductor technology for EVs. Denso currently holds less than 5% of Rohm's shares.