© mikael damkier dreamstime.com General | August 14, 2020
Pegatron to merge with Casetek
Pegasus Ace Limited, a subsidiary of EMS-giant Pegatron, has entered into a merger and acquisition agreement with Taiwanese manufacturer of light metal casings, Casetek Holdings Limited.
Following the completion of the agreement, Casetek will become a wholly-owned subsidiary of Pegatron. In a filling with the Taiwanese stock exchange, Pegatron – which directly and indirectly holds 59.43% of the total issued shares of Casetek – details the agreement, saying that it is a response to the challenges and rapidly changing global markets and industries. “Our group is devoting efforts to resource integration and refocus so as to reinforce our competitive advantages and to improve the operational performance,” the filling reads. Pegatron says that it expects to integrate the strength of both companies in talent resources, technical know-how, product diversity and customer base from both parties. At the same time Pegatron says it aims to strengthen key technologies and R&D capabilities in metal casing and thereby create a complementary industry integration to provide customers with more services. Pegatron will paying NTD 87.5 per share to the shareholders of Casetek. As a result of the merger, Casetek will be delisted from the Taiwan Stock Exchange and will cease from public issuance. Casetek plans to hold an extraordinary shareholders' meeting on September 30, 2020 to discuss the merger and relevant proposals.