30 Aug 2016
Acquisition of SunEdison Semiconductor Limited by GlobalWafers Co., Ltd by way of Scheme of Arrangement
Partners Lawrence Tan, Low Poh Ling, Tan Su Yin and Hoon Chi Tern, Senior Associate Xiang Chew and Associate Alina Tan are acting for SunEdison Semiconductor Limited, a Singapore company listed on the NASDAQ in the United States ("Company") in the proposed acquisition of the Company by GlobalWafers Co., Ltd. ("Acquiror"). Subject to the requisite approvals being obtained, the proposed acquisition will be effected by way of a scheme of arrangement under which all of the issued shares of the Company ("Shares") will be transferred to the Acquiror for a consideration of US$12.00 per Share ("Scheme"). Upon completion of the Scheme, the Company will be delisted from the NASDAQ.
The Company is a global leader in the manufacture and sale of silicon wafers in the semiconductor industry, providing innovative and advanced technology solutions to leading chip manufacturers. The business of the Company is supported by R&D and manufacturing facilities in the United States, Europe, and Asia. The common stock of the Company is listed on the NASDAQ OMX Global Select Market under the symbol "SEMI". Based on the consideration of US$12.00 per Share and including its outstanding indebtedness, the Company is valued at approximately US$683 million.
The Acquiror is a large silicon wafer manufacturer which specialises in 3” to 12” silicon wafer manufacturing, with product applications extending through power management, automotive, information technology and microelectromechanical systems (MEMS). The Acquiror operates out of nine facilities in Taiwan, China, the United States, Japan, Denmark, and Poland. GlobalWafers is listed on the Taipei Exchange.