© Siltronic Business | December 16, 2020
Siltronic and Globalwafers to combine as a new wafer manufacturing giant
The two companies have entered into a Business Combination Agreement (BCA) under which GlobalWafers will make a tender offer to Siltronic shareholders at an offer price of EUR 125 per share in cash.
The product portfolios of both companies complement each other in many areas and form a strong basis to benefit from the long-term growth drivers in the wafer industry. “The combination is a great opportunity for Siltronic and GlobalWafers to jointly form a company that is a world leader in both technology and efficiency,” said Dr. Christoph von Plotho, CEO Siltronic. “The Supervisory Board welcomes the planned combination of the two companies and thanks the Executive Board for its merits in establishing Siltronic as a technology leader in the global wafer industry,” said Dr. Tobias Ohler, Chairman of Siltronic's Supervisory Board. The agreement signed between the companies include commitments for Siltronic sites and employees. In particular, it includes a guarantee for the German sites, as well as protection against compulsory redundancies for employees in Germany until the end of 2024. The Burghausen site will remain Siltronic's technology and R&D centre. Sufficient investment budgets will be available in order to maintain and further develop existing production capacities, a press release reads. The established Siltronic brand will also remain in the combined company. "This combination shows how attractive the Siltronic team and its leading-edge solutions are in this market. GlobalWafers has made important commitments for a successful future of Siltronic within the GlobalWafers Group. In particular, the guarantees made to the sites and the workforce were very important to us, but also maintaining the strong Siltronic brand under the GlobalWafers umbrella," von Plotho said. Siltronic will continue to manage its operating business with a high degree of strategic freedom. In order to fully exploit the potential of the combination, the CEO, CFO and Head of Technology of Siltronic AG will assume additional management functions at GlobalWafers after the completion of the proposed transaction.
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