STATS ChipPAC shares dive as takeover talks end

SHARES of STATS ChipPAC took a hard knock yesterday on news that talks with a third party interested in taking over the loss-making semiconductor group have been discontinued.

The stock dived by as much as 14.6 per cent initially to an intra-day low of 55.5 cents before closing at 58.5 cents, still down 10 per cent from the previous day's 65 cents. Some 66.5 million shares with a traded value of $39.8 million changed hands.

In its announcement yesterday on the discontinuation of talks, STATS ChipPAC also said that discussions with other interested parties were still going on.