"We expect that the free cash flow that comes with the transaction will immediately cover the restructuring costs. So it's not like we will go through a black hole of cash drain," finance chief Dominik Asam told journalists during a conference call on Wednesday.

Merger-shy Infineon earlier said it had agreed to buy International Rectifier for about $3 billion in cash in its biggest-ever acquisition.

(Reporting by Maria Sheahan; Editing by Victoria Bryan)