By: Wei Shu and Frances Huang
In a statement filed Monday with the Taiwan Stock Exchange (TWSE), where TPK shares are traded, the touch panel maker said it had decided to pull out of the consortium and the JDI investment plan because of the fast changing market.
TPK said it could not disclose further details about the decision, however, because the consortium signed a non-disclosure agreement with JDI.
In April, TPK announced it would team up with China-based Harvest Tech Investment Management Co., and Cosgrove Global Ltd. and Topnotch Corp., the two Taiwanese firms company owned by the Fubon Group's Tsai family to a joint venture by investing up to US$230 million. [FULL STORY