GlobalWafers Co (環球晶圓) yesterday expressed frustration that its planned takeover of Siltronic AG failed to win regulatory approval from the German government, saying it would reassess its future investment strategy.
The US$5 billion deal was derailed by the German government, which did not reach a decision on its review of the transaction after more than a year. The German Ministry for Economic Affairs and Energy blamed a late approval from China for not making a decision in time.
“Until the end of this deadline, not all necessary steps of the investment review could be concluded,” the ministry said in an e-mailed statement.