Newspaper article St Louis Post-Dispatch (MO)

SunEdison Semiconductor to Be Acquired by GlobalWafers in $683M Deal

Newspaper article St Louis Post-Dispatch (MO)

SunEdison Semiconductor to Be Acquired by GlobalWafers in $683M Deal

Article excerpt

SunEdison Semiconductor, an O'Fallon, Mo.-based maker of silicon wafers for the computer chip industry, has agreed to be acquired by Taiwan-based GlobalWafers Co. Ltd., the two companies announced Wednesday night.

The transaction is valued at $683 million, which includes debt.

Under the terms of the agreement, SunEdison shareholders will receive $12 in cash for each share held, 45 percent more than the stock's closing price on Wednesday.

The deal was unanimously approved by both boards of directors, the companies said.

"We believe this combination is unique in that it merges two of the market's key suppliers with minimal overlap in customers, products and production capacities," Doris Hsu, chairperson and CEO of GlobalWafers, said in a statement. "The combined company will bring together GlobalWafers' unparalleled operating model and market strengths with SunEdison Semiconductor's expansive global footprint and product development capabilities."

The deal is pending approval from SunEdison Semiconductor's shareholders as well as regulatory approval. …

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