By Joshua Kirby 
 

Siltronic AG said late Friday that a takeover by Taiwan's GlobalWafers Co. still hasn't been approved by the German government, with just weeks remaining until the offer period expires.

The chip maker said it has received no information from the country's economic ministry regarding the conditions necessary for government clearance. The bid from GlobalWafers provides that all conditions have to be met by Jan. 31, and remains dependent on clearance from the German government, Siltronic said.

At the end of 2020, industrial manufacturer GlobalWafers made an all-share bid via a subsidiary, GlobalWafers GmbH, for Siltronic at 125 euros ($142.69) a share, later increased to EUR140 a share.

Siltronic meanwhile said it will release its preliminary results for 2021 on Feb. 2. They had previously been scheduled for Jan. 26.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

January 17, 2022 01:28 ET (06:28 GMT)

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