Renesas Electronics Corporation (TSE:6723) is working with bankers at JPMorgan to explore the potential sale of its timing division in a deal that could value the business at close to $2 billion, Reuters' Milana Vinn reported. According to people familiar with the matter, Texas Instruments Incorporated (NasdaqGS:TXN) and Infineon Technologies AG (XTRA:IFX) are among the potential buyers of the unit.