By Joshua Kirby 

GlobalWafers Co. said Friday that its subsidiary has increased its all-share takeover offer for Siltronic AG, while all other conditions remain unchanged.

The Taiwanese industrial manufacturer said subsidiary GlobalWafers GmbH's increased offer of 140 euros ($170.34) a share, from EUR125 previously, represents a 66% premium to the 90-day volume weighted average Xetra price as of Nov. 27.

The price increase is a result of market purchases of Siltronic shares on Jan. 21, GlobalWafers said.

Last month, the company reached a deal with Wacker Chemie AG to buy the German chemical company's entire stake of around 30.8% in Siltronic at the previous price.

As before, the acceptance period for the offer will expire at midnight on Jan. 27, GlobalWafers said.


Write to Joshua Kirby at; @joshualeokirby


(END) Dow Jones Newswires

January 22, 2021 04:16 ET (09:16 GMT)

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