GlobalWafers to Reassess Strategy After Siltronic Deal Demise
- Taiwanese company’s takeover of Munich-based rival collapses
- Germany blames late China approval for incomplete review
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Taiwan’s GlobalWafers Co. expressed frustration that its planned takeover of Siltronic AG failed to win regulatory approval from the German government, saying it would reassess its future investment strategy.
The $5 billion deal was derailed by the German government, which didn’t reach a decision on its review of the transaction after more than a year. The Economy Ministry blamed a late approval from China for not making a decision in time.