STATS ChipPAC in talks with two Chinese firms for possible takeover

Find out who the bidders are.

Mainboard-listed technology firm STATS ChipPAC today confirmed reports that is in talks with two Chinese firms for a possible takeover, after the SGX posted a query regarding the surge in the company’s shares yesterday.

In a disclosure on the SGX, the company revealed that Jiangsu Changjiang Electronics Technology Co., Ltd. (“JCET”) and Tianshui Huatian Technology Co., Ltd. (“Huatian”) are considering bids for the company.

“As the Company had announced on 16 May 2014, 5 June 2014 and 12 June 2014, certain parties have contacted the Company to explore a possible acquisition of the Company. The Company wishes to confirm that these parties include JCET and Huatian. There is no assurance that any of these approaches will result in any definitive agreement or transaction,” noted STATS ChipPAC.