Sectors

MDax Group Siltronic to be sold to Asia

The semiconductor manufacturer Siltronic is about to be taken over by a competitor from Asia. The GlobalWafers group wants to buy the German MDax company.

The semiconductor company Siltronic is to be taken over by the Taiwanese competitor GlobalWafers. The talks about an offer from the Taiwanese company in the amount of 125 euros per share are about to be concluded, as the Wacker Chemie stake announced on Sunday evening in Munich. At this price, Siltronic is valued at 3.75 billion euros, which is significantly higher than before on the stock exchange.

On the basis of the figures for 2019, the two companies would bring together sales of around three billion euros. The slightly larger contribution would come from the Taiwanese. According to the information, Siltronic should essentially be able to continue its own business strategy. In addition, location closings or operational dismissals in Germany are excluded until the end of 2024.

Siltronic pays dividends

The mentioned price of 125 euros corresponds to a premium of 48 percent compared to the volume-weighted average price of the last 90 days, the company said. In the past few days, however, the shares listed in the MDax had risen sharply: on Friday they closed at 113.55 euros, the highest level in around two years.

In addition, the shareholders are expected to receive a dividend of around EUR 2 per share for 2020 – probably before the transaction is completed. The major shareholder Wacker Chemie considers the terms to be “attractive and appropriate” and is about to sell its shares.

The Munich-based company would then receive almost 1.2 billion euros for the remaining shares in their former daughter, which they had brought to the stock exchange in 2015 and in which they currently hold 31 percent.

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