carlyle-leads-6-billion-bid-for-semiconductor-company

Carlyle leads $6 billion bid for semiconductor company

In Carlyle's latest investment in Taiwan, the firm and co-investors offer $6 billion to acquire 100% of Advanced Semiconductor Engineering.

By Sameera Anand

November 26, 2006

Carlyle confirmed on Friday that a consortium it is leading has submitted a bid to acquire Advanced Semiconductor Engineering ASE in Taiwan in an-all cash deal. Carlyle is bidding for 100% of the company in a transaction which values ASE, on an equity value basis, at $6 billion. Including assumption of some debt, the deal size could be about 5% higher.

The Carlyle consortium has offered a price of NT$39 $1.19 per share for ASE representing a 23.5% premium over the 30-day average closing price of the company. It has also offered $5.94 per outstanding American depositary receipt of ASE with each ADR representing five shares. If successful, Carlyle intends to delist ASE...

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