ASE proposes ‘industrial holding platform’ for Siliconware

Focus Taiwan
Date: 2016/03/17
By: Jalen Chung and S.C. Chang

Taipei, March 17 (CNA) Advanced Semiconductor Engineering Inc. (ASE), unsuccessful in

Joseph Tung (董宏思, left), Tien Wu (吳田玉)

Joseph Tung (董宏思, left), Tien Wu (吳田玉)

its second attempt to merge with Siliconware Precision Industries Co., put forth a new proposal Thursday to bring the latter under its fold — by forming an “industrial holding platform” on which the two will become “brother companies.”

ASE Chief Operating Office Tien Wu (吳田玉) stressed that such a platform is aimed at boosting the competitiveness of Taiwan’s IC packaging and testing industry, an idea that he said “the new (Democratic Progressive Party) government would welcome.”

ASE made the proposal after the Cabinet-level Fair Trade Commission (FTC) failed a day earlier to decide on whether or not to approve ASE’s proposal to merge with Siliconware Precision Industries Co. Ltd (SPIL), essentially denying its consent to the marriage.

Under its latest proposal, according to ASE’s Chief Financial Officer Joseph Tung (董宏思), ASE will delist from the Taiwan Stock Exchange after establishing a new stock-holding firm. The new firm will then relist, with ASE and SPIL taking a “proportional” share of the board of directors and supervisors seats.     [FULL  STORY]

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