Siltronic Sale to GlobalWafers in Limbo as German Government yet to Give Clearance
January 17 2022 - 1:43AM
Dow Jones News
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)
Copyright (c) 2022 Dow Jones & Company, Inc.
Siltronic (TG:WAF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Siltronic (TG:WAF)
Historical Stock Chart
From Sep 2023 to Sep 2024