Abu Dhabi firm attempts $3.9 billion buyout of Chartered Semiconductor

Abu Dhabi-based Advanced Technology Investment Company Atic said on Sunday it intends to acquire 100% of Singapore-based foundry Chartered Semiconductor Manufacturing for a firm value of S$5.6 billion $3.9 billion.

Atic will offer S$2.68 per share for all of Chartered's outstanding shares, for a total equity value of S$2.5 billion. The price represents a premium of 14.2% to the 30-day volume-weighted average price VWAP of Chartered's shares on the Singapore Exchange, and a premium of 26.8% to the 90-day VWAP and a 44.2% premium to the six-month VWAP. The price translates into $18.64 for each of the company's US-listed American depositary shares ADS, although the exact amount per ADS is subject...