Wednesday, 18 Sep 2019

Aixtron no longer being acquired as GCI halts their 670 million Euro offer

The recent US prohibition of the acquisition of Aixtron was the last straw for CGI and it decided alternative options not as attractive

12 Dec 2016 | Editor

Aixtron has recently announced that Grand Chip Investment GmbH (GCI) has decided to halt 670 million euro ($710.60 million) public takeover offer for the acquisition of all shares, including all shares represented by ADSs, of Aixtron by GCI published on July 29, 2016. The offer has lapsed due to the non-fulfilment of an offer condition.

According to the announcement of GCI, the offer condition of the clearance of the transaction by the Committee on Foreign Investment in the United States (CFIUS) or the U.S. President laid out in Section 4.2.2 (ii) of the offer document has not been fulfilled as a consequence of the order of the President of the United States dated December 2, 2016 prohibiting the acquisition of the U.S. business of AIXTRON by the Chinese bidder.

Consequently, the public takeover process initiated by GCI has come to end in a way that it cannot be consummated any more.

In other news reports the China's Ministry of Commerce (MOFCOM) is reported to criticised the United States for thwarting a Chinese investment fund's proposed acquisition of German semiconductor equipment maker.

The news reports that CEO Martin Goetzeler views two possible routes of action in moving the company forward:

  • Continue to invest in new equipment at high development and scale-up expense and operation under the optimism that the markets for Aixtron's products recover
  • Reorganise by shrinking, divesting non-core technologies and focus on a specialised offering

It will be interesting to see what options the company will pursue over the coming months.


About Aixtron

Aixtron SE is a leading provider of deposition equipment to the semiconductor industry. The Company was founded in 1983 and is headquartered in Herzogenrath (near Aachen), Germany, with subsidiaries and sales offices in Asia, Europe and in the United States. Aixtron's technology solutions are used by a diverse range of customers worldwide to build advanced components for electronic and opto-electronic applications based on compound, silicon, or organic semiconductor materials. Such components are used in a broad range of innovative applications, technologies and industries. These include LED applications, display technologies, data storage, data transmission, energy management and conversion, communication, signaling and lighting as well as a range of other leading-edge technologies.

Source: Aixtron

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