Siltronic In Advanced Takeover Talks With GlobalWafers: Report

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  • The deal is worth $4.5 billion
  • Siltronic said that under the current terms of the deal, there will be no site closures or layoffs of employees for operational reasons in Germany until the end of 2024
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Pic Source – Wallpaper Flare

As per a report by Reuters, German chipmaker Siltronic said that it is in advanced takeover talks with Taiwan’s GlobalWafers in a 3.75-billion-euro deal ($4.5 billion) to create a leading player in the wafer industry. The report added that Siltronic said in a statement GlobalWafers is expected to bid 125 euros per Siltronic share.

As per the report, the firm said it expected Wacker Chemie, which owns a 30.8 per cent stake in Siltronic, will conclude an agreement to tender its shares at this offer price. Siltronic said the companies have been in negotiations for several months and expect to sign a binding merger agreement in the second week of December. This will be done following approval by both companies’ supervisory boards.

No site closures or layoffs of employees for operational reasons

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The report added that Siltronic said that under the current terms of the deal, there will be no site closures or layoffs of employees for operational reasons in Germany until the end of 2024. it further added that the combined companies would be number two in the world market for 300-millimeter wafers – silicon wafers from which chips are punched. Siltronic also said it expects to propose a dividend of 2 euros per share for its fiscal year 2020 which will be paid prior to the closure of the deal.

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