GlobalWafers Agrees to Buy Siltronic for About $4.5 Billion

Date: Dec 09, 2020
By: Debby Wu, Bloomberg News

A silicon wafer made by Taiwan Semiconductor Manufacturing Co. (TSMC) is arranged for a photograph at the company's headquarters in Hsinchu, Taiwan. Photographer: Maurice Tsai/Bloomberg , Photographer: Maurice Tsai/Bloomberg

(Bloomberg) — Taiwan’s GlobalWafers Co. agreed to acquire German silicon wafer manufacturer Siltronic AG for about 3.75 billion euros ($4.53 billion), yet another deal in a record year the global semiconductor industry.

GlobalWafers will pay 125 euros a share, a 10% premium to Siltronic’s closing price Nov. 27, the day before public disclosure of acquisition talks, the companies said Wednesday in a statement. The two companies had disclosed earlier they were in discussions, sending shares in both companies surging.

Siltronic said at the time its executive board considered the offer “attractive and appropriate,” and that its largest shareholder, Wacker Chemie AG, which has a 30.8% stake, is prepared to sell its stake. Siltronic also said the deal would prohibit job losses in Germany until the end of 2024.

The companies said they expect the deal to be completed in the second half of 2021.

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