SPIL halts China deal until May 20

MULTIPLE FRONTS:The company is to focus on a takeover bid by its rival ASE, which was granted an extension on a Feb. 16 deadline to buy 24.71 percent of SPIL shares

Taipei Times
Date: Feb 26, 2016
By: Lisa Wang / Staff reporter, in TAICHUNG

Siliconware Precision Industries Co Ltd (SPIL, 矽品精密) yesterday said that it would not make any new attempts to seek government approval for a NT$56.8 billion (US$1.7 billion) share sales to China’s Tsinghua Unigroup Ltd (清華紫光) before the new government takes office in May.

The world’s No. 3 chip tester and packager made the announcement amid growing uncertainty about rival Advanced Semiconductor Manufacturing Engineering Inc’s (ASE, 日月光半導體) takeover bid.

Taiwan’s competition watchdog on Wednesday decided to extend its review of the deal for the second time, by 60 days. That raises the odds for the Fair Trade Commission to block ASE’s acquisition of SPIL.     [FULL  STORY]

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