By: Jalen Chung, Han Ting-ting and Frances Huang
Taipei, Sept. 23 (CNA) Guangdong Fenghua Advanced Technology (Holding) Co. (風華高
科), a Chinese electronics component supplier, has tendered an offer to acquire a 35-40 percent stake in Taiwan’s Viking Tech Corp. (光頡).
Under the proposed deal, which is subject to approval by Taiwan’s Investment Commission, Fenghua is offering NT$29.8 (US$0.91) per share, a 25.7 percent premium over Viking Tech’s closing level on Tuesday.
The Chinese company is aiming to acquire 41.07 million to 46.94 million Viking Tech shares, which would make it the biggest shareholder in the Taiwanese firm.
If the deal goes through, it will be the first acquisition of a Taiwanese company by a Chinese enterprise through a tender offer. [FULL STORY]