STATS ChipPAC talks extended again

TALKS over the potential US$780 million sale of STATS ChipPAC to China's Jiangsu Changjiang Electronics Technology Co (JCET) have been extended for a second time. The new deadline is now Dec 31, 2014.

JCET had on Nov 6 announced plans to make a US$780 million offer for the Singapore chip assembly and testing firm.

The exclusive negotiations between STATS ChipPAC's controlling shareholder, Singapore Technologies Semiconductors, and JCET were to have ended by Nov 30, but were extended to Dec 20. On Saturday, the firm said that this has been postponed again to 5 pm on Dec 31.