ALWAYS ONE:Although already approved by many nations, ASE needs to start the whole procedure again by resubmitting an application to the Chinese authority
Date: Jun 29, 2017
By: Lisa Wang / Staff reporter, in Kaohsiung
Advanced Semiconductor Engineering Inc (ASE, 日月光半導體) yesterday said that it would seek to extend the deadline of a takeover bid for its rival Siliconware Precision Industries Co Ltd (SPIL, 矽品精密), if China did not grant it permission to proceed with the deal by end of the year.
The deal, worth NT$128.7 billion (US$4.24 billion), has received approval from the regulatory agencies of various nations, including Taiwan, the US and South Korea, as well as Europe, the chip tester and packager said.
However, the transaction is yet to complete, as the Chinese Ministry of Commerce earlier this month said that it needs time for further scrutiny.
To achieve final approval, ASE needs to start the whole procedure again by resubmitting an application to the Chinese authority. [FULL STORY]