Siltronic Agrees To $4.53 Billion Takeover By GlobalWafers: Report

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  • Former Siltronic parent Wacker Chemie said separately it made a binding commitment to transfer its entire 30.8 per cent stake in Siltronic to GlobalWafers
  • The prospective merger partners said that the tender offer for 125 euros ($151.03) per share will be subject to a shareholder acceptance threshold of 65 per cent

As per a report by Reuters, Siltronic said that its management agreed to the takeover of the German silicon wafer maker by Taiwan’s GlobalWafers for 3.75 billion euros ($4.53 billion). It said that the planned merger will create the world’s second-largest player in the 300-millimeter wafers market, behind Japan’s Shin-Etsu.

It added that former Siltronic parent Wacker Chemie said separately it made a binding commitment to transfer its entire 30.8 per cent stake in Siltronic to GlobalWafers. The prospective merger partners said that the tender offer for 125 euros ($151.03) per share will be subject to a shareholder acceptance threshold of 65 per cent.

20 factories in 10 countries

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As per the report, the German group said that the combination of Siltronic as one of the technology leaders in the wafer sector and GlobalWafers with its excellent supply chain management and competitive cost structure will create a ‘best-in-class’ wafer producer. Doris Hsu, chairwoman of GlobalWafers, said the two companies complement each other well and that she is “cautiously optimistic” the deal will receive all due regulatory approvals added the report.

Hsu said in a phone interview that the combined company will have 20 factories in 10 countries. Once the platform is established, it will mean technology upgrade for the clients added the report. Siltronic said ten days back that it was in advanced talks to be acquired by GlobalWafers for 125 euros per share

As per the report, Siltronic investor Argonaut Capital has said the proposed price was unfair to minority shareholders, who were being “corralled into selling out at a cyclical bottom in the semiconductor wafer industry which Siltronic has rejected.

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