Stats Chippac Approached by JCET, Huatian About PurchaseAaron Clark
Stats Chippac Ltd. said Jiangsu Changjiang Electronics Technology Co. and Tianshui Huatian Technology Co. approached the Singapore-based semiconductor test and assembly services company about purchasing it.
Companies including the two Chinese chip-testing firms have contacted Stats Chippac to explore a possible acquisition, according to a statement filed with the Singapore Exchange Securities Trading Ltd. A deal may or may not be reached, according to the statement.
Bloomberg News reported yesterday that Jiangsu Changjiang Electronics and Tianshui Huatian Technology were working on offers for Stats Chippac, according to people familiar with the matter. A deal for the Singapore company could be reached early next month, said one of the people, who asked not to be identified because the deliberations are confidential.
Stats Chippac was unchanged at 66 Singapore cents at the close in Singapore trading. The shares have doubled this year.
Semiconductors is a strategic industry needed for China’s economic development and national security, the official Xinhua News Agency said in June, citing a plan issued by the State Council. China will increase financial support for the industry and plans to set up a national investment fund, Xinhua said.