GlobalWafers raises takeover bid for Siltronic to $5.1 billion
BERLIN (Reuters) – Taiwan’s Globalwafers raised its takeover offer for Germany’s Siltronic to 4.2 billion euros ($5.1 billion) on Friday as it seeks to win over more shareholders in its bid to create a leading player in the global wafer industry.
GlobalWafers said in a statement it would increase the cash consideration of its offer to 140 euros per share, a 12% premium over its original offer of 125 euros per share.
The planned merger, first flagged at the end of November, would create the world’s second-largest player in the 300-millimeter wafers market, behind Japan’s Shin-Etsu.
All other terms and conditions remain unchanged from the offer document published on Dec. 21, GlobalWafers said. Shareholders have until Jan. 27 to tender their shares.
The tender offer is subject to a shareholder acceptance threshold of 65%, the prospective merger partners said last month.
Siltronic’s management support the deal but some investors have said the proposed price was unfair to minority shareholders.
GlobalWafers said it currently holds 4.53% of all Siltronic shares. Former Siltronic parent Wacker Chemie has also made a binding commitment to transfer its entire 30.8% stake in Siltronic to GlobalWafers.
($1 = 0.8218 euros)
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