Market Overview

SPIL Board Agreed to Initiate Evaluation on ASE's Proposal to Use Share Swap with Cash as Consideration if 2 Conditions are Met


Siliconware Precision Industries Co., Ltd. (NASDAQ: SPIL) (the "Company") held a board meeting this morning to discuss the letter from Advance Semiconductor Engineering Inc. (NYSE: ASX), dated December 14, 2015 (the "ASE Letter"), and has resolved to clarify and respond to the ASE Letter as follows:

With regard to the ASE Letter's accusations that the Company's management has always held a hostile attitude towards ASE's investment proposal and that the Company has not used a more reasonable attitude to carefully consider all the possibilities of cooperation with ASE, the Company hereby emphasizes again that it has never opposed amicable industry consolidation that are beneficial for the development of the Taiwan semiconductor industry. On the contrary, the Company opposes hostile plundering takeovers, because it may possibly be detrimental to the Taiwan semiconductor industry. ASE was the party that commenced the hostile takeover, while the Company has never, from the beginning, maintained hostility towards ASE. However, the Company and ASE have not been able to communicate mainly because ASE has said it is making a financial

See full press release

Posted-In: News Management M&A Press Releases


Related Articles (SPIL + ASX)

View Comments and Join the Discussion!