SunEdison Semiconductor announces regulatory approvals from Taiwan and Austria for proposed acquisition

SunEdison Semiconductor Limited (NASDAQ:SEMI) (“SunEdison Semiconductor”) announced today that it has received notice that the Investment Committee of the Ministry of the Economic Affairs of the Republic of China has approved the proposed acquisition of SunEdison Semiconductor by GlobalWafers Co., Ltd. (“GlobalWafers”), and that the Austrian antitrust authority has concluded its review.  As a result, all pre-closing antitrust requirements have been completed.

As previously announced on August 17, 2016, GlobalWafers and SunEdison Semiconductor entered into a definitive agreement for the acquisition by GlobalWafers, through a wholly owned subsidiary, of all of the outstanding ordinary shares of SunEdison Semiconductor in an all-cash transaction valued at US$683 million, including SunEdison Semiconductor outstanding net indebtedness, pursuant to a scheme of arrangement under Singapore law.  Under the terms of the agreement, SunEdison Semiconductor shareholders will receive, upon consummation of the scheme of arrangement, US$12.00 per share in cash for each ordinary share.

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.