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GlobalWafers Further Raises Bid For Siltronic To 4.35 Billion Euros

GlobalWafers Further Raises Bid For Siltronic To 4.35 Billion Euros

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.

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.

($1 = 0.8219 euros)

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