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ASX - ASE Technology Holding Co News Story

$4.01 -0.0  -0.2%

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Large Cap
Market Cap £6.71bn
Enterprise Value £11.13bn
Revenue £11.82bn
Position in Universe 820th / 6393

Taiwan's ASE offers to buy Siliconware Precision to deflect China rival bid

Mon 14th December, 2015 11:22am
TAIPEI, Dec 14 (Reuters) - Taiwan's Advanced Semiconductor 
Engineering Inc  2311.TW  said on Monday it will increase its 
stake in rival Siliconware Precision Industries Co Ltd  2325.TW  
to make it a wholly owned unit in a bid to deflect a Chinese 
rival's plan to buy into the company. 
    ASE's plan, approved by its board, comes after Siliconware 
Precision, also known as SPIL, said on Friday that China's 
state-backed technology conglomerate Tsinghua Unigroup will take 
a quarter stake in the company at T$55 ($1.67) a share.*:nL8N143239 
    ASE said in its statement that it would buy SPIL shares at 
the same price of T$55 offered by Unigroup in an all cash 
    "SPIL must terminate or cancel the Tsinghua deal," ASE said, 
adding that SPIL has until Dec. 21 to respond to ASE's proposal. 
    ASE in recent months purchased SPIL shares in the open 
market amounting to a quarter stake in SPIL. However, SPIL 
considered the move hostile and tried, unsuccessfully, to bring 
in alternative investors, such as Hon Hai Precision Industry Co 
Ltd  2317.TW .*:nL4N11G37D 
($1 = 32.9080 Taiwan dollars) 
 (Reporting by J.R. Wu; Editing by Susan Fenton) 
 ((; +886 2 2500 4881; Reuters 
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