ASE And SPIL Receive All Antitrust Approvals For Merger

(RTTNews) - Advanced Semiconductor Engineering Inc. (ASX) and Siliconware Precision Industries Co., Ltd. (SPIL) said that they received all antitrust approvals for their combination and the established ASE Industrial Holding Co., Ltd.

Advanced Semiconductor Engineering, Inc. and Siliconware Precision Industries said on June 30, 2016 that both companies plan to establish ASE Industrial Holding Co., Ltd. Or "HoldCo.

ASE and SPIL received clearances from the Taiwan Fair Trade Commission and the U.S. Federal Trade Commission on November 16, 2016 and May 15, 2017, respectively. On November 24, 2017, the Anti-Monopoly Bureau under the Ministry of Commerce of the PRC or "MOFCOM" announced that it has conditionally approved the proposed transaction.

Since ASE and SPIL have now received all necessary antitrust clearances for the transaction, ASE will immediately proceed with the establishment of HoldCo. It is expected that an extraordinary general meeting will be convened in February 2018 and the establishment of HoldCo will be completed by the end of May 2018. This timeline, however, is subject to the review progress of competent authorities.