GLOBAL MARKET:The FTC said that according to the information and opinions it collected, the merger would not hamper competition, which ‘will only intensify’
Date: Nov 17, 2016
By: Lisa Wang / Staff reporter
Advanced Semiconductor Engineering Inc (ASE, 日月光半導體) yesterday received approval from the Fair Trade Commission (FTC) for its NT$128.7 billion (US$4.04 billion) bid to acquire Siliconware Precision Industries Co (SPIL, 矽品精密), clearing a major hurdle to finalize one of Taiwan’s biggest acquisition deals.
The approval bodes well for the world’s largest chip tester and packager to obtain approvals from competition watchdogs in China and the US to complete the transaction before the bid expires on Dec. 31 next year.
ASE applied to the agencies in September to seek final approvals.
Yesterday’s approval did not come easily. The nation’s competition watchdog in July began a new round of reviews over the deal after ASE and SPIL in May agreed to form an industrial holding company via a friendly takeover bid, instead of a hostile acquisition launched in August last year. [FULL STORY]