Advanced Semiconductor Engineering Inc (ASE, 日月光半導體), the world’s biggest chip packager and tester, yesterday said it has filed an injunction to the Taichung District Court to forbid Siliconware Precision Industries Co (SPIL, 矽品精密) to hold an extraordinary shareholders’ meeting on Oct. 15.
The drastic measure came after ASE issued several public letters to SPIL shareholders, urging them to vote against SPIL’s proposal to form a strategic alliance with Hon Hai Precision Industry Co (鴻海精密) via a share swap, citing significant dilution of shareholders’ equities.
ASE becomes the biggest shareholder of SPIL after completing the transaction to secure a 25 percent stake in its local rival in a tender offer worth NT$35 billion (US$1.05 billion).
“We are not certain if the court will grant the injunction in time to prohibit SPIL from holding an extraordinary shareholder’s meeting on Oct. 15,” ASE spokesman Eddie Chang (張聲華) said.
ASE accused SPIL’s management of depriving it of the right to vote against the proposal, as SPIL, after signing a non-binding letter of intent with Hon Hai, picked Oct. 15 for an extraordinary meeting — with a Sept. 15 registration date — to disqualify ASE from being able to cast its vote.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
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