By: Matthew Strong. Taiwan News, Staff Writer
TAIPEI (Taiwan News) – A takeover bid by Advanced Semiconductor Engineering Co. for Siliconware Precision Industries Co. had effectively failed after the government’s Fair Trade Commission failed to give its views on the deal Wednesday, just one day before the official deadline.
SPIL, the world’s third-largest integrated circuit packaging and testing company, has been the target of a takeover battle for months, with Chinese involvement also playing a part.
In order to ward off advances from ASE, the world’s biggest chip packager and tester, SPIL management has sought support from tycoon Terry Gou’s Hon Hai Precision Industry Co., Ltd. and, more controversially, from China’s Tsinghua Unigroup Inc.
March 17 was the deadline for the ASE offer, but the FTC’s inability to reach a decision for or against has in effect ended the present stage of the process and sunk ASE’s takeover plans, reports said. [SOURCE]