Acquirer: GlobalWafers Co., Ltd. (Taiwan)
Acquired: SunEdison Semiconductor Limited (Singapore)
Value: US$683 million
UPDATE: On October 31, 2016, GlobalWafers Co. Ltd., a publicly traded Taiwan silicon wafer manufacturer, announced “that they have received notice from the Committee on Foreign Investment in the United States (CFIUS) that it has concluded its review of the proposed acquisition of SunEdison Semiconductor by GlobalWafers, and determined that there are no unresolved national security concerns with respect to the proposed acquisition.” (See GlobalWafers Press Release, Oct. 31, 2016.) On August 17, 2016, GlobalWafers entered into an agreement to acquire SunEdison Semiconductor Limited (“SunEdison”), a Singapore corporation with U.S. headquarters in St. Peters, Missouri. (See SunEdison Form 8-K, Aug. 18, 2016, SEC Filing.) Following CFIUS clearance, SunEdison’s shareholders approved the transaction and it is anticipated to close prior to Dec. 31, 2016. (See GlobalWafers Press Release, Nov. 8, 2016.)
Posted September 26, 2016
Status: Upcoming/New Filing
On August 17, 2016, SunEdison Semiconductor Limited (“SunEdison”), a Singapore corporation with U.S. headquarters in St. Peters Missouri, and GlobalWafers Co., Ltd. (“GlobalWafers”), a Taiwan company, entered into an agreement whereby a wholly owned subsidiary of GlobalWafers will acquire the outstanding ordinary shares of SunEdison in a transaction valued at approximately US$683 million (see GlobalWafers Press Release here). The Transaction will be structured as a Scheme of Arrangement under Singapore law and is subject to the terms and conditions contained in the Implementation Agreement, and subject to various regulatory approvals including clearance or approval of the transaction by CFIUS (see SunEdison Form 8-K SEC filing here; see also SunEdison Schedule 14A Information here). Both SunEdison and GlobalWafers are “leaders in the manufacture and sale of silicon wafers to the semiconductor industry,” but the companies have “minimal overlap in customers, products and production capacities” (see statements by Doris Hsu, Chairperson and CEO of GlobalWafers in GlobalWafers Press Release here).