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Vishay may raise bid for Rectifier

October 07, 2008|From Times Wire Services

Vishay Intertechnology Inc., a maker of electronic components for automobiles, said it was willing to increase its $23-a-share bid for International Rectifier Corp., which makes power-management chips, if the El Segundo company could show that its turnaround plan would justify a higher price.

Malvern, Pa.-based Vishay has asked Rectifier's investors to elect three Vishay nominees to the board of directors Friday and said it might withdraw the bid if they weren't approved. Rectifier called Vishay's bid "ill-advised, speculative and highly conditional."

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