Taiwan's Unimicron dismisses rumors on Foxconn merger

Unimicron Technology Corp., a major handset PCB supplier in Taiwan, has dismissed rumors of a possible merger with Foxconn Electronics Inc., the registered trade name of Hong Hai Precision Ind. Co. Ltd.

Unimicron Chairman Tzeng Tze-chang was quick to note that the companies only had business ties and will remain unchanged in the future.

The rumor alleged that Foxconn had raised its offer to $1.84 per share, up from its previous offer of $1.53 in an effort to acquire Unimicron. In addition, Foxconn was said to be interested in consolidating the upstream supply chain to facilitate operations of its own handset making arm, Hong-Kong-listed Foxconn Int. Holdings.