ChipMOS Approves Merger Of ChipMOS Taiwan, ThaiLin Semiconductor Units

(RTTNews) - ChipMOS Technologies (Bermuda) Ltd. (IMOS) Wednesday approved the proposed merger of its units ChipMOS Technologies Inc.(Taiwan) and ThaiLin Semiconductor Corp. The board of directors of both the units have also approved the merger, which is expected to occur in June 2015. As per the merger deal, ThaiLin's shareholders will be offered a combination of NT$12.5 in cash and 0.311 of one ChipMOS Taiwan share in exchange for each ThaiLin' common share held. Following the transaction, the merged entity would become a 58 percent owned unit of ChipMOS Technologies (Bermuda) LTD. This proposed merger is the latest development in the parent company's ongoing efforts to streamline its corporate and financial structure for maximizing potential efficiencies.