GlobalWafer's merger with Siltronic hits a speed bump
The completion of the of merger with GlobalWafers likely to be delayed due to protracted discussions with authorities on regulatory clearances, says Siltronic.
According to an update from Munich-based Siltronic, it's unlikely that the deal will be completed in the current fiscal year. GlobalWafers and Siltronic continue to discuss constructively with the authorities on the terms of the outstanding clearances. Back in December of 2020 the two companies entered into a Business Combination Agreement (BCA) under which GlobalWafers would offer EUR 125 per SIltronic share in cash. This offer was later increased to EUR 140 per Siltronic share.