By Lisa Kerner
Charlotte, N.C., Sept. 5 - Advanced Semiconductor Engineering, Inc. agreed to acquire the ordinary shares and Taiwan Depositary Shares of its subsidiary ASE Test Ltd. in a deal to take the company private.
The all-cash acquisition consideration consists of $14.78 for each ASE Test ordinary share listed on Nasdaq and the New Taiwan dollar equivalent of $0.185 for each ASE Test TDS, according to a company news release.
The total value of the transaction, which is slated to close in December, is about $784 million.
The proposed acquisition will be effected by way of a scheme of arrangement under Section 210 of the Companies Act of Singapore and requires ASE Test shareholder approval.
Advanced Semiconductor Engineering was advised by Citigroup Global Markets Taiwan Ltd., and ASE Test was advised by Lehman Brothers Inc.
Kaohsiung, Taiwan-based Advanced Semiconductor Engineering and ASE Test are independent providers of integrated circuit packaging and testing services.
| Acquirer: | Advanced Semiconductor Engineering, Inc.
|
| Target: | ASE Test Ltd.
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| Transaction total: | $784 million
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| Price per share: | $14.78 per ordinary share; $0.185 per Taiwan Depositary Share
|
| Announcement date: | Sept. 4
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| Expected closing: | December 2007
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| Stock price for target: | Nasdaq: ASTSF: $14.35 on Sept. 4
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