temasek-subsidiary-aims-to-delist-stats-chippac

Temasek subsidiary aims to delist STATS ChipPAC

Singapore Technologies Semiconductors launches an offer to buy out minority shareholders in the semiconductor company, STATS ChipPAC, at a total outlay of up to $1.71 billion.
March 01, 2007
Singapore Technologies Semiconductors STS, which is primarily an investment holding company and is a 100% Temasek subsidiary, has offered to buy out minority shareholders in STATS ChipPAC. STS currently owns 35.6% of STATS ChipPAC and will pay up to S$2.62 billion $1.71 billion for the 64.4% minority float it does not own. If successful, STS will delist STATS ChipPAC from the Singapore Exchange and NASDAQ, where it is currently listed.

STS has launched a tender offer under which it must corner 90% of the outstanding free float to delist. The advantage of this format is that STS can keep all shares it gets, even if it does not achieve...
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