For AIXTRON, one of the two giants of MOCVD, the idea of ​​acquiring Chinese companies has never stopped. Obviously, in addition to AIXTRON is one of the world's leading providers of LED core equipment MOCVD, its more semiconductor equipment business, for Chinese LED chip companies, also meet the needs of the future third-generation semiconductor market.
On September 16th, Grand Chip Investment GmbH, registered in Frankfurt, officially announced the acquisition of all ADStron (NASDAQ: AIXG) American depositary shares in a public offer.
The purchase price is 6 euros per share. It is nearly 24% higher than Aixtron's closing price of 4.86 euros per share on Friday. Compared to Ai Siqiang's weighted average share price over the past three months, the above quote represents a 51% premium.
The deadline for the takeover offer is 24 o'clock on October 7, 2016 (Frankfurt time, Germany), and the possibility of extending the time limit is maintained according to German local securities regulations.
As of September 16th, AIXTRON's registered shares were 113 million shares. As of the base date, the acquisition of the offer has received 7,890,300 shares, accounting for 7% of the total shares. This time, the acceptance of the tender offer is at least 60%.
Aixtron (AIXG)'s second-quarter earnings report showed that the company recorded revenue of $34.1 million in the quarter, down 15.6% from the same period last year, lower than analysts' expectations of $36.73 million; loss per share was $0.09, lower than analysts expected. Loss of $0.07. The board of directors recommended that the company's shareholders accept the proposed investment of approximately 670 million euros from the German chip investment fund Fujian Chip Investment Fund LP's German subsidiary Grand Chip Investment GmbH.
On May 23, Aixtron officially disclosed that the Fujian Grand Chip Investment Fund issued an offer to acquire Aixtron at a price of 6 euros per share for a total price of 670 million euros.
Aixtron CEO Martin Goetzeler said: "The board of directors and the board of supervisors both welcome (investment in China)." China's participation is expected to end the company's four-year loss.
On May 24, Sanan Optoelectronics disclosed that the company will invest RMB 12 million with its own monetary funds to establish Fujian Province with the National Integrated Circuit Industry Investment Fund Co., Ltd. and Jinjiang Anzhen Investment Fund Partnership (Limited Partnership). Core Investment Management Co., Ltd., its business scope is investment management and investment consulting.
In February of this year, matters related to the establishment of Anxin Investment Fund have been disclosed. On February 28, the official website of the Fujian government disclosed the information, Quanzhou Municipal Government, National Integrated Circuit Industry Investment Fund Co., Ltd., Huaxin Investment Management Co., Ltd., Fujian Sanan Group Co., Ltd., etc., jointly signed the establishment of Fujian Province Anxin in Fuzhou. Industrial Investment Fund Partnership Enterprise Strategic Cooperation Agreement.
The Anxin Fund, which was established this time, will be located in Jinjiang. The target size of the fund is 50 billion yuan, and the initial investment scale is 7.51 billion yuan. It will be mainly invested in the III-V compound integrated circuit industry group and other semiconductor industries dominated by the integrated circuit industry chain, covering design, manufacturing, packaging and testing, materials, equipment and applications.
The fund will support Quanzhou to develop high-tech industries such as integrated circuit industry and semiconductor, build Fujian Electric Power Industrial Park in Jinjiang, and support Sanan Group and Sanan Optoelectronics or its affiliates to conduct domestic and overseas mergers and acquisitions, new technology research and development and new construction. And expand production lines and other services.
As of the first quarter of this year, the National Integrated Circuit Industry Investment Fund Co., Ltd. holds 9.15% of Sanan Optoelectronics.
From the relevant information obtained so far, Huaxin Investment has become the only publicly related event related party. This has also forced the industry to speculate that the acquisition of AIXTRON has a certain correlation with the Anxin Fund that Sanan Optoelectronics participated in.
According to the disclosure data, once the transaction is completed, Fujian Hongxin Fund is expected to appoint four representatives in the Ai Siqiang six-person supervisory board. The transaction needs to be approved by shareholders and needs to meet regulatory conditions.
Capital, a German professional financial magazine, mentioned the acquisition of KUKA, the leading German robot manufacturer by Chinese companies, and wrote at the end of the article: If China wants to play with all aspects of the semiconductor industry, Ai Siqiang is a very The goal of temptation.
Globally, this company in Aachen, Germany, has only one strong competitor, the Veeco company from New York State.
But in the United States, the Chinese have almost no chance. The US government always likes to stop such transactions. Because the final semiconductor may also be used for military purposes, such as in the laser, missile or satellite field. It seems that Germany does not feel that there is anything wrong with this.
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