On December 9th, the Supervisory Board of Wacker Chemie Co., Ltd. approved an irrevocable commitment agreement between Wacker and Taiwan Global Wafers Co., Ltd.. According to the agreement, WACKER has made an irrevocable undertaking that under the framework of a voluntary tender offer initiated by Global Wafer to the shareholders of Shichuang Electronic Materials, it will hold approximately 30.8% of Shichuang Electronic Materials Co., Ltd. Sold its shares to Universal Wafer Co., Ltd. The agreement was signed after the meeting of the WACKER Supervisory Board. The offer price is 125 euros per share, and the minimum acceptance threshold for the takeover offer will be 65%. Global Wafer's tender offer also needs to be approved by the regulatory authorities in accordance with the regulatory requirements for mergers and acquisitions and other related regulations.
When explaining the background of the signing of the agreement, WACKER President and CEO Mr. Shi Tuozhi said: “After WACKER became a minority shareholder of Shichuang Electronic Materials in 2017, we have repeatedly stated that we intend to transfer our holdings in the medium and long term. Some remaining shares. In the past few years, Shichuang Electronic Materials has developed very well, has a solid position in the global semiconductor wafer market, sophisticated technology and equipment, and high business profits. Therefore, for us, now is the next step , A good time to completely withdraw from Shichuang Electronic Materials. After the transaction is completed, the industry will produce a leading supplier with a rich product portfolio and the ability to provide all semiconductor customers with high-tech products."
Mr. Shi Tuozhi also emphasized that, in WACKER’s view, Global Wafer will be a good partner for Shichuang Electronic Materials, and the two sides complement each other in strategy and technology. "For us, it is very important that Global Wafer has made a comprehensive commitment to the production base of our previous semiconductor subsidiary in the agreement reached with Shitron Electronic Materials. Shitron Electronic Materials can maintain the basic business strategy. No change, it will remain a trusted partner of the European semiconductor industry in the future. At the same time, the labor-management agreement reached between the company and the employee representatives is also guaranteed, and the production base will not be closed or terminated in Germany through dismissal of labor services in Germany before the end of 2024. Therefore, we believe that by selling all the shares of Shichuang Electronic Materials to Global Wafer, we can also fulfill our obligations as a company in terms of social responsibility." said the president of WACKER Group.
