GlobalWafers further raises bid for Siltronic to 4.35bn euros
- The proposal has been in jeopardy after hardly any shareholders, besides Siltronic's former parent company Wacker Chemie which has 30.8%, accepted it.
- GlobalWafers Chief Executive Doris Hsu said the revised terms were its final offer and that the offer reflected a fair price for all shareholders.
BERLIN: Taiwan's Globalwafers further raised its offer for Germany's Siltronic by 150 million euros ($183 million) on Saturday as it tries to win over the target's shareholders to its bid to create a leading player in the global silicon wafer industry.
The sweetened offer, which values Siltronic at 4.35 billion euros, came just a day after Globalwafers previously increased its offer, which would create the world's second-largest player in the 300 millimeter wafers market behind Japan's Shin-Etsu .
The proposal has been in jeopardy after hardly any shareholders, besides Siltronic's former parent company Wacker Chemie which has 30.8%, accepted it.
GlobalWafers said it would increase the all-cash bid to 145 euros per share, 16% more than its original offer of 125 euros, having on Friday hiked its bid for the Munich-based rival by 450 million euros or 140 euros per share.
GlobalWafers Chief Executive Doris Hsu said the revised terms were its final offer and that the offer reflected a fair price for all shareholders.
Siltronic shareholders have until Jan. 27 to tender their shares in favour of the deal, which is subject to an acceptance threshold of 65%. Siltronic's management supports the deal.
Comments
Comments are closed for this article.