International Rectifier Settles with Vishay

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International Rectifier Corp. on Wednesday said that it had agreed to refund $30 million to settle disputes related to Vishay Intertechnology Inc.’s acquisition of its power-control business in 2007.

Vishay also was granted a license to some technology to be developed in the future by the El Segundo chipmaker. Also, the settlement clarifies non-compete covenants that will enable International Rectifier to develop, manufacture and sell additional products using technologies sold or licensed to Vishay.

Vishay, a Malvern, Pa maker of similar semiconductor products, launched an unsuccessful $1.7 billion hostile-takeover bid against International Rectifier last year, in large part over the dispute. Vishay paid $290 million for the unit in April 2007 but later claimed that former officials at International Rectifier misrepresented certain facts about the operation.

International Rectifier Corp. shares were up 18 cents, or 1 percent, in midday trading on the New York Stock Exchange.

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