Diodes Incorporated Receives Approval from China’s Antitrust Authority for Lite-On Semiconductor Acquisition
Diodes Incorporated (Nasdaq: DIOD) today announced the Company has received approval from the China’s State Administration for Market Regulation (SAMR) to proceed with its planned acquisition of Lite-On Semiconductor (TWSE: 5305) (“LSC”), as announced on August 8, 2019. LSC has initiated the process to terminate its listing on the Taiwan Stock Exchange as of the record date and revoke its public offering with the Taiwan Financial Supervisory Commission.
With the exception of the remaining customary closing conditions, all other conditions to the deal’s closing have been satisfied, including the approvals from the Taiwan Fair Trade Commission, the Investment Commission of the Ministry of Economic Affairs and China’s National Development and Reform Commission and SAMR. Closing is expected to occur by the end of November of this year.
About Diodes incorporated
Diodes Incorporated (Nasdaq: DIOD), a Standard and Poor’s SmallCap 600 and Russell 3000 Index company, delivers high-quality semiconductor products to the world’s leading companies in the consumer electronics, computing, communications, industrial, and automotive markets. We leverage our expanded product portfolio of discrete, analog, and mixed-signal products and leading-edge packaging technology to meet customers’ needs. Our broad range of application-specific solutions and solutions-focused sales, coupled with worldwide operations of 28 sites, including engineering, testing, manufacturing, and customer service, enables us to be a premier provider for high-volume, high-growth markets. For more information visit www.Diodes.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth herein that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements include, but are not limited to, the following: the expected benefits of the acquisition, including the acquisition being immediately accretive; the efficiencies, cost savings, revenues, and enhanced product offerings, market position, and design and manufacturing capabilities of Diodes after the acquisition; and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “will,” and similar expressions.