SunEdison Semiconductor, an O’Fallon, Mo.-based maker of silicon wafers for the computer dent industry, has agreed to be acquired by Taiwan-based GlobalWafers Co. Ltd., the two companies appear Wednesday night.
The transaction is admired at $683 million, which includes debt.
Under the acceding of the agreement, SunEdison shareholders will accept $12 in banknote for anniversary allotment held, 45 percent added than the stock’s closing amount on Wednesday.
The accord was absolutely accustomed by both boards of directors, the companies said.
“We accept this aggregate is different in that it merges two of the market’s key suppliers with basal overlap in customers, articles and assembly capacities,” Doris Hsu, administrator and CEO of GlobalWafers, said in a statement. “The accumulated aggregation will accompany calm GlobalWafers’ unparalleled operating archetypal and bazaar strengths with SunEdison Semiconductor’s all-embracing all-around brand and artefact development capabilities.”
The accord is awaiting approval from SunEdison Semiconductor’s shareholders as able-bodied as authoritative approval.
“We attending advanced to a bland action to facilitate an able closing, which we achievement can action afore the end of the year,” Shaker Sadasivam, arch controlling of SunEdison Semiconductor, said in a statement.
In February, the aggregation appear it was exploring cardinal alternatives due to “indications of interest” from an anonymous party.
Faltering appeal for desktop and laptop computers has hit the dent bazaar hard, which in about-face has aching prices for silicon wafers acclimated to accomplish semiconductors.
For the aboriginal six months of this year, SunEdison Semiconductor absent $165.6 million, added than the accident of $136.7 actor for the absolute year of 2015.
Formerly MEMC Electronic Materials, SunEdison Semiconductor was created afterwards Maryland Heights-based solar aggregation SunEdison Inc. afar the silicon dent business in 2014 and after awash off its pale in the subsidiary.
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