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MUNICH (dpa-AFX) – The management committee of the wafer manufacturer Siltronic has spoken out in favor of the once again increased takeover offer from the Taiwanese chip supplier Globalwafers. The Management Board welcomes the increased purchase offer and considers the offer to be attractive overall, announced Siltronic on Saturday evening. The company pointed out that the now raised offer price corresponds to an increase of 16 percent over the original bid.
Globalwafers announced on Saturday that instead of the previous EUR 140, Siltronic shareholders would now be paid EUR 145 per share for all outstanding ordinary shares. This is the “final takeover offer,” it said. It was only on Friday that Globalwafers increased the offer from 125 to 140 euros.
All other conditions of the takeover offer remained unchanged. The shareholders can continue to consider whether to accept the offer until January 27th. Wafers are thin slices of silicon that serve as a base plate for electronic components such as microchips.
The major shareholder WACKER CHEMIE had already contractually agreed in December that it would sell its almost 31 percent stake in Siltronic, which would bring almost 1.2 billion euros into the cash register. In addition, Globalwafers announced a minimum acceptance threshold of 65 percent in December. According to the announcement on Friday, the group currently holds 4.53 percent of Siltronic.
In the event of a successful takeover, Globalwafers had announced that German Siltronic locations would be protected against closings until the end of 2024, as would employees in Germany against redundancies.
Alongside China, Taiwan is the most important manufacturer of semiconductor elements. There is currently a shortage of microchips and sensors in the German automotive industry. Federal Minister of Economics Peter Altmaier sent a letter to the Taiwanese government and asked for help in solving the current supply problems, as reported by the “Saarbrücker Zeitung”. For him, this is of “outstanding industrial policy importance”, as otherwise the economic corona recovery in the industry would be endangered.
The Association of the Automobile Industry approached Altmaier because the lack of chips is seriously affecting car production. The background to this is, among other things, a high demand for semiconductors: the auto business picked up earlier than expected after the Corona slump, while other industries such as entertainment electronics or medical technology also want to be supplied./edh/brd/DP/edh