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Equity firm abandons ASE acquisition plans

Posted: 19 Apr 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Taiwan IC packaging? ASE acquisition plans? equity firm plans?

The Carlyle Group and others have withdrawn their plans to acquire Advanced Semiconductor Engineering Inc. (ASE), the world's largest IC packaging house.

ASE of Taiwan said that it was notified on April 17 by the investor consortium led by The Carlyle Group that they would drop acquisition plans. In November, the private equity group announced plans to acquire ASE for NT$39 per share. The deal was valued at $5.46 billion.

The consortium and ASE failed to reach agreement on the proposed offer price after a number of meetings between ASE's evaluation committee.

During its most recent meeting with the evaluation committee, the consortium agreed to increase the offer price to NT$39.50 per share. ''The evaluation committee concluded that this proposed offer price did not reflect the value of the company and informed the board of the company and the consortium that it would not support a transaction at the proposed offer price,'' according to ASE.

- Mark Lapedus
EE Times

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