Adds particulars on deal advisers, modifications dateline B
Adds particulars on deal advisers, modifications dateline
BERLIN, Nov 30 (Reuters) – German chipmaker Siltronic WAFGn.DE mentioned on Sunday it’s in superior takeover talks with Taiwan’s GlobalWafers 6488.TWO in a 3.75-billion-euro ($4.5 billion) deal to create a number one participant within the wafer trade.
Siltronic mentioned GlobalWafers is predicted to bid 125 euros per Siltronic share, which represents an 11% premium over Friday’s closing worth, and that it thought-about the provide “enticing and applicable”.
Underneath the present phrases of the deal, there can be no web site closures or layoffs of workers for operational causes in Germany till the tip of 2024, Siltronic mentioned.
The Munich-based agency mentioned it anticipated Wacker Chemie WCHG.DE, which owns a 30.8% stake in Siltronic, to conclude an settlement to tender its shares on the provide worth.
Siltronic mentioned the businesses have been in negotiations for a number of months and are anticipated to signal a binding merger settlement within the second week of December, following approval by each corporations’ supervisory boards.
The mixed corporations can be quantity two on the earth marketplace for 300-millimeter wafers – silicon wafers from which chips are punched – behind Japan’s Shin-Etsu 4063.T GlobalWafers is presently quantity 4, Siltronic quantity 5.
Siltronic expects to suggest a dividend of two euros per share for its fiscal 12 months 2020 that can be paid previous to the closure of the deal.
Nomura is advising GlobalWafers on the transaction, whereas Siltronic is being suggested by Credit score Suisse, in line with individuals with direct information.
The banks didn’t instantly reply to Reuters’ request for a remark.
($1 = 0.8365 euros)
(Reporting by Caroline Copley and Alexander Huebner; further reporting by Kane Wu in Hong Kong, Enhancing by Sherry Jacob-Phillips)
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