Vishay has made a non-binding proposal to the International Rectifier to acquire all the outstanding shares for approximately $1.6 billion. The proposal is subject to diligence and other customary conditions. At the end of 2006 International Rectifier already sold the PCS business for approximately $290 million to Vishay. The product lines included in the transaction include certain discrete planar MOSFETs, discrete diodes and rectifiers, discrete thyristors, and automotive modules and assemblies. The 2007 revenue of International Rectifier was $1.2 billion and the net income was $77.4 million. Vishay announced net revenues for the year ended December 2007 were $2.833 billion and the net income was $139.7 million.