STATS ChipPAC attracts US$780m bid from China firm
JCET's S$0.452 per share offer compares against S'pore chipmaker's last traded price of S$0.58, a discount of 20%
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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.
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