MUNICH (dpa-AFX) - Wacker Chemie AG (WKCMY.PK, WKCMF.PK) said that it is currently in advanced discussions with GlobalWafers Co. Ltd. regarding the sale of its entire stake in Siltronic of about 30.8 percent of Siltronic's total shares outstanding.
Wacker expects that its supervisory Board will take a decision on this matter in the second week of December 2020.
Wacker Chemie said that the sale would take place in the context of a voluntary tender offer by GlobalWafers to the shareholders of Siltronic at an offer price of 125 euros per share.
Wacker noted that it will tender its about 9.24 million Siltronic shares at the offer price in a voluntary tender offer.
In a separate press release, Siltronic confirmed that it is in advanced discussions with with GlobalWafers to enter into a Business Combination Agreement.
Siltronic expects that GlobalWafers will make a voluntary tender offer to Siltronic shareholders at an offer price of 125 euros per share. In addition, Siltronic plans to propose a dividend of about 2 euros per share for fiscal year 2020, which is expected to be paid prior to the completion of the transaction.
The offer price represents a premium of 48% above the volume-weighted average XETRA price over the last 90 days.
Siltronic could pursue an essentially unchanged business strategy, the social partnership with the employee representatives will be maintained, and there will be no site closures or layoffs of employees for operational reasons in Germany until the end of 2024, Siltronic said citing the current status of the document.
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