China Investment Fund Makes Offer for German Chipmaker Aixtron
May 23 2016 - 5:00AM
Dow Jones News
FRANKFURT—Chinese entrepreneur Zhendong Liu has made a takeover
offer for German chip maker Aixtron SE, the latest sign of China's
growing appetite for European technology firms.
German semiconductor and machinery company Aixtron SE said
Monday it has agreed to a takeover by the German unit of China's
Fujian Grand Chip Investment Fund LP, which is 51%-owned by
Zhendong Liu and 49%-owned by the Xiamen Bohao Investment Ltd. The
German unit of the company is Grand Chip Investment GmbH.
Shareholders would be offered €6.00 ($6.73) per Aixtron share,
valuing the company at about €670 million, Aixtron said.
The offer is a 50.7% premium on the three-month weighted average
share price, and both the executive and supervisory boards support
the offer, it added. The voluntary public offer is for all of
Aixtron's outstanding shares, including those represented by
American depository shares.
The offer depends on a minimum acceptance rate of 60%, as well
as regulatory approvals.
"Aixtron and FGC view the transaction as an opportunity to grow
and to expand the company and its workforce - the transaction isn't
directed toward cost or staff reductions," the company said.
Write to Monica Houston-Waesch at nikki.houston@wsj.com
(END) Dow Jones Newswires
May 23, 2016 04:45 ET (08:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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