has staged a multi-day battle to defend the equity interests of ASE and Silicon Products, entering another climax this week. As ASE’s public acquisition of shares of Silicon Products is about to end on the 22nd next week, on the 16th, Silicon Products Chairman Lin Wenbo and Hon Hai Chairman Terry Gou and others held a briefing on strategic alliance in an attempt to stabilize shareholders' minds. During the meeting, Lin Wenbo also said that if ASE's stock price acquisition reaches 5%, it needs to make an announcement, which means that it did not even reach 5% at that time. Unexpectedly, two days later, on the 18th, ASE announced a 5% acquisition. In addition to becoming one of the major shareholders of Silicon Products, ASE may also cause small shareholders who were originally on the sidelines to sell their shares to ASE.
Moonlight announced today on the 18th that it has publicly acquired 156,546,720 common shares of Silicon Products for sale in Taiwan, exceeding the scheduled minimum acquisition number of 155,818,056 shares, which is the minimum acquisition target of 5%, even though Silicon Products Chairman Lin Wenbo increased his investment in August 5,000. Lin Wenlong, one of the directors, added 1,000. Lin Wenbo’s shareholding ratio only increased from 2.2% to nearly 2.4%, and Lin Wenlong increased from 0.67% to 0.7%. From the shareholding ratio disclosed in the 2014 Silicon Products Annual Report Judging from the top ten shareholders, ASE's 5% shareholding is quite large. Even if Hon Hai is added and ASE's equity is diluted, if the shareholding status of other shareholders does not change, ASE is likely to become a major player in silicon products. One of the shareholders.
(Source: Silicon Products 2014 Annual Report)
On the other hand, ASE’s minimum 5% equity acquisition target is undoubtedly a reassurance for the acquisition in the remaining days, and it will continue to move towards the 25% target. If ASE's acquisition does not reach the 5% low bid on September 22, the acquisition will be declared a failure. During this period, the stocks that are scheduled to be sold after signing the sales procedures and deposited in the special acquisition account will be returned intact to the selling stocks. During this period, the stocks sold cannot be traded, and the money obtained from the sales cannot be obtained for the time being. Investors must bear the risk that the stocks may fall during this period. When 5% has been reached and the current acquisition price of ASE is still better than the current stock price of Silicon Products, it may prompt more hesitant small shareholders to sell their stocks. However, if the acquisition limit of 25% is exceeded, investors will still have some The risk that the shares will not be acquired.
Today, when ASE announced that it had reached the minimum acquisition of shares, 200 Silicon Products employees went north to gather at the Ministry of Labor to express their dissatisfaction with ASE's hostile merger to the government, hoping that the government would not sell official shares, and protect the work rights of Silicon Products employees. The outside world is paying attention to how the equity battle between ASE and Silicon Products will end!
(Source of the first image: ASE’s official website)
Extended reading:
- Terry Gou: ASE’s purchase of Silicon Products shares is purely a financial investment
- When the Internet of Things may become a lifesaver for Taiwanese manufacturers, ASE’s pursuit of integration with Silicon Products will be just the beginning
- Silicon Products Counterattack? First criticize ASE's acquisition price as unreasonable, and then use Hon Hai's stock exchange strategy to form an alliance
- (updated) hostile merger? ASE announced that it has purchased a 25% stake in rival Silicon Products, and it is rumored that the other party did not know about it
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