STATS ChipPAC attracts US$780m bid from China firm

Singapore

STATS ChipPAC is inching towards the arms of Jiangsu Changjiang Electronics Technology (JCET), with the Chinese buyer proposing on Thursday a muted US$780 million bid for most of the Singapore chipmaker.

But this courtship, already made public earlier this year, has more work ahead. For one thing, the semiconductor firm - which has long been on the selling block - will have to restructure its Taiwanese operations before the sale becomes definitive, regulatory announcements showed.