SunEdison Semiconductor Announces Regulatory Approvals from Taiwan and Austria for Proposed Acquisition
November 04 2016 - 7:15AM
SunEdison Semiconductor Limited (NASDAQ:SEMI) (“SunEdison
Semiconductor”) announced today that it has received notice that
the Investment Committee of the Ministry of the Economic Affairs of
the Republic of China has approved the proposed acquisition of
SunEdison Semiconductor by GlobalWafers Co., Ltd. (“GlobalWafers”),
and that the Austrian antitrust authority has concluded its
review. As a result, all pre-closing antitrust requirements
have been completed.
As previously announced on August 17, 2016,
GlobalWafers and SunEdison Semiconductor entered into a definitive
agreement for the acquisition by GlobalWafers, through a wholly
owned subsidiary, of all of the outstanding ordinary shares of
SunEdison Semiconductor in an all-cash transaction valued at US$683
million, including SunEdison Semiconductor outstanding net
indebtedness, pursuant to a scheme of arrangement under Singapore
law. Under the terms of the agreement, SunEdison
Semiconductor shareholders will receive, upon consummation of the
scheme of arrangement, US$12.00 per share in cash for each ordinary
share.
About SunEdison
Semiconductor
SunEdison Semiconductor is a global leader in
the manufacture and sale of silicon wafers to the semiconductor
industry. For over 55 years, SunEdison Semiconductor has been a
pioneer in the design and development of silicon wafer
technologies. With R&D and manufacturing facilities in the
U.S., Europe, and Asia, SunEdison Semiconductor enables the next
generation of high performance semiconductor devices. SunEdison
Semiconductor’s common stock is listed on the NASDAQ OMX Global
Select Market under the symbol "SEMI."
Additional Information and Where You Can
Find It
In connection with the proposed transaction,
SunEdison Semiconductor filed a definitive proxy statement with the
U.S. Securities and Exchange Commission (“SEC”) on October 13, 2016
and the proxy statement was first mailed to the shareholders of
SunEdison Semiconductor on or about that same date. SHAREHOLDERS OF
SUNEDISON SEMICONDUCTOR ARE URGED TO READ THE PROXY STATEMENT AND
ANY OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE
PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE IN THE PROXY
STATEMENT (IF ANY) BECAUSE THEY CONTAIN IMPORTANT
INFORMATION. The proxy statement, and any other documents
filed by SunEdison Semiconductor or GlobalWafers with the SEC, may
be obtained free of charge at the SEC’s website at www.sec.gov.
Shareholders are urged to read the proxy statement and the other
relevant materials before making any decision with respect to the
proposed transaction.
Certain Information Concerning
Participants
Each of GlobalWafers, SunEdison Semiconductor
and their respective directors and executive officers may be deemed
to be participants in the solicitation of proxies from SunEdison
Semiconductor shareholders in favor of the proposed transaction.
GlobalWafers currently owns approximately 4.9% of the outstanding
ordinary shares of SunEdison Semiconductor. Information about
GlobalWafers and its directors and executive officers may be found
in the Schedule 14A filed by GlobalWafers with the SEC on August
18, 2016. Information about SunEdison Semiconductor’s
directors and executive officers is set forth in its proxy
statement for its 2016 Annual General Meeting of Shareholders and
its most recent annual report on Form 10-K. Information about
the directors’ and executive officers’ ownership in SunEdison
Semiconductor’s ordinary shares, as well as additional information
regarding the direct or indirect interests of participants in the
solicitation of proxies in connection with the contemplated
transactions, is included in the definitive proxy statement filed
with the SEC and first mailed to stockholders on or about October
13, 2016.
Contacts
SunEdison Semiconductor
Chris Chaney
Director, Investor Relations & Corporate Communications
SunEdison Semiconductor Limited
cchaney@sunedisonsemi.com
+1 636 474 5226
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