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CFIUS Upcoming/New Filing: GlobalWafers Co., Ltd. and SunEdison Semiconductor Limited

Status: Upcoming/New Filing
Acquirer:  GlobalWafers Co., Ltd. (Taiwan)
Acquired: SunEdison Semiconductor Limited (Singapore)
Value: Approx. US$683 million
Industry: Semiconductors

On August 17, 2016, SunEdison Semiconductor Limited (“SunEdison”), a Singapore corporation with U.S. headquarters in St. Peters Missouri, and GlobalWafers Co., Ltd. (“GlobalWafers”), a Taiwan company, entered into an agreement whereby a wholly owned subsidiary of GlobalWafers will acquire the outstanding ordinary shares of SunEdison in a transaction valued at approximately US$683 million (see GlobalWafers Press Release here).    The Transaction will be structured as a Scheme of Arrangement under Singapore law and is subject to the terms and conditions contained in the Implementation Agreement, and subject to various regulatory approvals including clearance or approval of the transaction by CFIUS (see SunEdison Form 8-K SEC filing here; see also SunEdison Schedule 14A Information here).  Both SunEdison and GlobalWafers are “leaders in the manufacture and sale of silicon wafers to the semiconductor industry,” but the companies have “minimal overlap in customers, products and production capacities” (see statements by Doris Hsu, Chairperson and CEO of GlobalWafers in GlobalWafers Press Release here).

© Copyright 2020 Squire Patton Boggs (US) LLPNational Law Review, Volume VI, Number 270


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