GlobalWafers Says Takeover of Siltronic Could Still Be Approved by Germany
January 27 2022 - 8:31AM
Dow Jones News
By Olivia Bugault
GlobalWafers Co. said Thursday that its proposed acquisition of
German wafer maker Siltronic AG could still receive a green light
from Germany.
The Taiwan-based manufacturer published this statement following
reports that the German government wasn't planning to give an
answer by the Jan. 31 deadline for the approval of the
takeover.
"The legal options to address any concerns remain an approval
under remedies or a letter with unilateral commitments by
GlobalWafers," the company said.
Earlier this month, shares in Siltronic tumbled on news that
Germany still hadn't cleared the acquisition. The bid from
GlobalWafers provides that all conditions have to be met by Jan.
31, Siltronic said at the time.
At the end of 2020, GlobalWafers made an all-share bid via a
subsidiary, GlobalWafers GmbH, for Siltronic at 125 euros ($140.51)
a share, later increased to EUR140 a share.
"I can confirm that we have not been able recently to liaise
with any Government entity to discuss the transaction,"
GlobalWafers's chief executive Doris Hsu said Thursday.
GlobalWafers said that if the deal fails, it would plan to make
alternative investments mostly outside Europe.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
January 27, 2022 08:16 ET (13:16 GMT)
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