Vishay's profits top the Thomson Streets projectings. Vishay says it will revist takeover bid of International Rectifier (IRF). Shares increases 24 cents to $3.64 in the afternoon trading.
Vishay initially offered $21.22 per share in cash, or total payment of approximately $1.6 billion to IRF in an attempt to buy all outstanding shares of IRF. However, this offer was rejected by the IRF Board of Directors. Vishay then increased its bid to $23.00 a share or about $1.7 billion in cash to IRF. This offer was again rejected by IRF's Board of Directors. After proposing to increase its all-cash offer again, if IRF could justify it, Vishay terminated its hostile takeover bid of IRF.