Macnica Chungju Co., Ltd. completed the acquisition of 50% stake in Answer Technology Co., Ltd..
August 14, 2019
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Macnica Chungju Co., Ltd. made an offer to acquire up to 50% stake in Answer Technology Co., Ltd. (TSEC:3528) for TWD 1.3 billion on May 7, 2019. Macnica Fuji Electronics will pay TWD 41 per share for the shares being acquired. Macnica Fuji Electronics will acquire a minimum of 22.96 million shares (representing 35% stake in Answer Technology) for TWD 941.3 million up to a maximum of 32.8 million shares (representing 50% stake in Answer Technology) for TWD 1.3 billion. Upon completion, Answer Technology may become a consolidated subsidiary of Macnica. The transaction was resolved by the Board of Directors of Macnica Fuji Electronics Holdings, Inc. (ultimate parent of Macnica Chungju). The tender offer will commence on May 8, 2019 and will run till June 26, 2019. As on June 25, 2019, the tender offer period has been extended up to August 15, 2019. The impact of the tender offer on the Macnica’s consolidated operating results for the fiscal year ending March 2019 is not material.
Macnica Chungju Co., Ltd. completed the acquisition of 50% stake in Answer Technology Co., Ltd. (TSEC:3528) on August 15, 2019.
Answer Technology Co Ltd is a Taiwan-based company principally engaged in the distribution of analog integrated circuits (ICs), mixed-signal ICs, logic ICs and ICs for special applications. The Company's brand agency business covers domestic and overseas brands, such as Analog Devices, Discera, GreenMark, ITE, Parade, TRINAMIC and Xilinx. The Company's products are applied in electronic products, industrial computers, wireless products, card readers, automotive electronics and others. The Company distributes its products within domestic market and to overseas markets.