Siltronic Shares Tumble After Company Says German Government Hasn't Cleared Takeover
January 17 2022 - 4:06AM
Dow Jones News
By Cecilia Butini
Shares in chip maker Siltronic AG fell in opening trade on
Monday after the company said that a proposed takeover by
Taiwan-based company GlobalWafers Co. still hasn't been approved by
the German government.
At 0817 GMT, Siltronic traded down 8.9% at EUR126.15.
GlobalWafers's bid is dependent on clearance by the German
government, and Siltronic said it is yet to receive information
from the economic ministry on the conditions for obtaining
clearance.
The bid, which is for 140 euros a Siltronic share, would value
the equity at 4.20 billion euros ($4.79 billion). It is set to
expire on Jan. 31.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
January 17, 2022 03:51 ET (08:51 GMT)
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