GlobalWafers Co (環球晶圓), the world’s No. 3 supplier of silicon wafers, yesterday said that it has acquired a 70.27 percent stake in German competitor Siltronic AG, in a public bid that ended four days ago.
With the acquisition of a controlling stake in Siltronic, the Taiwanese company is to become the world’s second-largest silicon wafer supplier.
Last month, GlobalWafers secured more than 50 percent of Siltronic shares with an offer of 4.35 billion euros (US$5.2 billion) in a public tender that was due to end on Feb. 10, but the acceptance period was extended until Monday.
Photo: Grace Hung, Taipei Times
In a statement released yesterday, the Hsinchu-based company said that shareholders representing 70.27 percent of Siltronic equity had ultimately accepted the offer, and it would now begin seeking regulatory approval for the deal ahead of a planned settlement in the second half of this year.
GlobalWafers chairwoman and chief executive officer Doris Hsu (徐秀蘭) said that the acquisition was a milestone in the company’s history, and would allow expanded production and more diverse product lines to better serve its global customer base.
With the acquisition, the company expects to nearly double its production capacity and increase revenue by 75 percent, GlobalWafers said.
The tender period, which began in December last year, was far from smooth sailing for GlobalWafers, as it hiked its bid for Siltronic’s outstanding shares to 145 euros, up from its original offer of 125 euros, and cut its minimum tender condition from a 65 percent stake to 50 percent.
GlobalWafers’ projected market share of 26.7 percent in the wake of the acquisition would make it the second-largest wafer manufacturer in the world, overtaking Sumco Corp of Japan, which has a 21.9 percent market share.
Japan’s Shin-Etsu Chemical Co is the largest silicon wafer manufacturer in the world, with a global market share of 29.4 percent.
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