Tongwei plans to acquire polysilicon competitor Qinghai Lihao

Shanghai-listed polysilicon producer Tongwei says it intends to acquire 100% of Qinghai Lihao through a share-and-cash transaction, as consolidation in China's polysilicon sector increasingly shifts toward mergers and acquisitions.Tongwei said it plans to acquire 100% of Chinese competitor Qinghai Lihao through a transaction combining share issuance and cash, alongside a planned supporting fundraise, according to a trading suspension notice dated Feb. 25. Tongwei said the deal remains at a preliminary stage. It has signed an intention agreement with the proposed sellers - Duan Yong and two limited ...

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