Deals
Apple Supplier Battle Ends in Defeat for Foxconn as Vote Fails
- Shareholders rejected Siliconware's plan to issue more shares
- Rival ASE campaigned against deal after taking 25% stake
Foxconn employees work along a production line in in Shenzhen, China.
Photographer: Thomas Lee/BloombergThis article is for subscribers only.
Foxconn Technology Group failed in its bid to take a stake in a Taiwanese chip company after a bruising public battle entangled two of Apple Inc.’s chief suppliers.
Siliconware Precision Industries Co. shareholders Thursday rejected two resolutions that would have paved the way for billionaire Terry Gou’s empire to become its biggest shareholder. Rival Advanced Semiconductor Engineering Inc. had campaigned against the move after failing to get a court to block the deal.