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The National Semiconductor Industry Spreads M&A News Again! Silicon wafer maker Global Crystal launched an important message to the market on the 30th, noting that it has negotiated the final stage of a business merger agreement (BCA) with Siltronic AG, which ranks fourth in world market share. of silicon wafers. And Global Crystal intends to publicly acquire Siltronic’s outstanding shares at a price of 125 euros (approximately NT $ 4,163.75) per share.
Global Crystal stated in a major informational announcement confirming today that Siltronic AG (Siltronic) announced on November 29, 1991 that Global Crystal and Siltronic are in the final stage of negotiations to reach a business merger agreement (BCA). Global Crystal intends to publicly acquire Siltronic’s outstanding shares for € 125 per share. Furthermore, Siltronic will follow its established dividend policy. Its Executive Board intends to pay Siltronic shareholders a dividend of approximately € 2 per share for fiscal year 2020, and is expected to be paid before the acquisition is completed. .
The combination of Global Crystal and Siltronic will create an industry leader and provide a complete and technologically leading product line for all semiconductor customers around the world. The combined business unit will be more complementary and efficient in investing and expanding production capacity.
Siltronic shareholders can sell their shares during the public takeover to realize their capital value. Global Crystal’s offering is a 48% premium over Siltronic’s volume weighted average price in the Xetra merchant market over the past 90 days. This price is the consensus reached by Global Crystal and Siltronic after lengthy negotiations over the past few months and their expectations of increases in the share price.
While negotiating with Siltronic on BCA, Global Crystal and Wacker Chemie AG (Wacker Chemie) also negotiated an irrevocable compromise agreement (IUA) and will soon reach a consensus. Under the agreement, Wacker Chemie promised to sell all of the Siltronic shares it owned (approximately 30.8% of the total issued Siltronic shares) to Global Jing during the public acquisition period.
This announcement represents the end result of the parties’ efforts to reach an agreement and will also create the greatest common benefits for Global Crystal, Siltronic and Wacker Chemie and their respective shareholders, employees, customers and other interested parties. Global Crystal and Siltronic expect to sign the BCA after obtaining approval from the Siltronic Board of Supervisors and the Global Crystal Board of Directors in the second week of December 1991. At this stage, confirmation of the acquisition cannot be guaranteed . The acquisition is still subject to the approval of the competent authority and the fulfillment of the relevant prerequisites.
It is understood that Global Crystal is currently ranked No. 4 in the global 12-inch wafer market, while Siltronic AG is ranked No. 5. After the two companies complete the merger, its market share will increase to the second most largest in the world, second only to Shin-Etsu Japan.
(Source of the first image: wiki)
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