GlobalWafers Says Takeover of Siltronic Could Still Be Approved by Germany

   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 [e-mail]

(END) Dow Jones Newswires

January 27, 2022 08:16 ET (13:16 GMT)

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