Saturday, January 23, 2021
"Final Offer"
Globalwafers makes improvements at Siltronic
They are the basic slats for electronic components – wafers: The manufacturer Globalwafers wants to become number two on the market. To do this, the Taiwanese have their eyes on Siltronic. One last offer is intended to lure shareholders.
The Taiwanese chip supplier Globalwafers has again increased its takeover offer for the German wafer manufacturer Siltronic. Instead of the previous 140 euros, 145 euros per share would now be offered for all outstanding Siltronic ordinary shares, as announced by Globalwafers. However, this represents our final offer and corresponds to a fair price for all Siltronic shareholders, "said GlobalWafers boss Doris Hsu. Globalwafers only increased the offer from 125 to 140 euros on Friday.
The Siltronic share listed in the MDax rose on Friday as a reaction to the first increase, well above the 140 euros offered, to 147.35 euros. At the end of the Xetra period it was 145.20 euros. GlobalWafers had bought in on the market and now has almost 37 percent – including the 30.8 percent that Siltronic's major shareholder Wacker Chemie has offered to the Asians. This would bring Wacker just under 1.2 billion euros into the cash register. By next Wednesday, when the acceptance period ends, the Taiwanese have to reach 65 percent – otherwise the purchase will have failed.
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.
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. The company employs around 3700 people, almost two thirds of them in Germany.
With the purchase of Siltronic, the world's number four, GlobalWafers wants to catch up with the industry leader Shin-Etsu from Japan, which has a 30 percent market share. The Siltronic Executive Board is behind the plan.
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