[Reuters] Renesas shareholders set to approve $2.4 billion bailout, shares soar

Posted by: UGN Security

[Reuters] Renesas shareholders set to approve $2.4 billion bailout, shares soar - 11/26/12 01:58 AM

TOKYO (Reuters) - Shareholders of Japan's embattled Renesas Electronics Corp are close to approving a government-led bailout, sources familiar with the talks said, sending the firm's shares 17 percent higher on relief that the $2.4 billion rescue was being finalized.