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AU Optronics acquires rival in stock swap

Posted: 12 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Spencer Chin? AU Optronics? Quanta Display?

Taiwan display maker AU Optronics Corp. has agreed to purchase Taiwan rival Quanta Display Inc. (QDI) in a stock swap.

Under the merger, slated to close October 1, 3.5 shares of QDI stock would be swapped for each share of AUO stock.

After the merger, two board members of AUO's board of directors will be appointed by QDI. KY Lee and HB Chen will remain as chairman/CEO and president/COO of AUO, while Mr. CC Leung of QDI will be appointed as vice chairman.

The merger is expected to increase AUO's area production capacity to 19 percent of the market, making the company more competitive with South Korea-based LG Philips LCD and Samsung Electronics. Leung added that the merger would also strengthen the future collaboration between AUO/BenQ group and QDI Group.

- Spencer Chin
EE Times

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