Delta Electronics Int'l (Singapore) Pte. Ltd made an offer to acquire 79.07% stake in Delta Electronics (Thailand) Public Company Limited (SET:DELTA) for THB 70 billion on July 31, 2018. Under the terms, Delta Electronics Int'l (Singapore) Pte. Ltd will acquire 986.27 million shares at THB 71 per share in cash. Delta Electronics, Inc currently holds 5.54%% stake and Delta International Holding Limited holds 15.39% stake in Delta Electronics (Thailand) Public Company Limited. The funds required by Delta Electronics Int'l (Singapore) Pte. Ltd. under the offer is from the credit facility supported by Delta Electronics, Inc. (TSEC:2308). Following the completion of the tender offer, Delta Electronics Int'l (Singapore) Pte. Ltd. may proceed with changing the number of Directors of the Board of Directors or may nominate its representatives to hold Director positions in the Board of Directors. Delta Electronics Int'l (Singapore) Pte. Ltd. does not intend to change the management of Delta Electronics (Thailand) Public Company Limited and function autonomy within 12 months after the end of the tender offer period. The transaction is expected to commence after approval by the respective authorities in designated countries is obtained. As of August 1, 2018, transaction is subject to regulatory and antitrust approval from Federal Trade Commission and Antitrust Division of Department of Justice of United States, Directorate-General for Competition of the European Commission of European Union, and State Administration for Market Regulation Anti-monopoly Bureau of China. Delta Electronics Int'l (Singapore) Pte. Ltd intends to maintain the listing status of Delta Electronics (Thailand) Public Company Limited. The transaction has been approved by the Board of Directors of Delta Electronics, Inc., parent of Delta Electronics Int'l (Singapore) Pte. Ltd. As on October 25, 2018, the deal was approved by the European Commission of European Union. Federal Trade Commission and Antitrust Division of Department of Justice of United States approved the transaction. As of February 13, 2019, all conditions have been fulfilled and transaction has been approved by the government agencies of the relevant countries. The tender offer period will commence on February 26, 2019, and end on April 1, 2019. Worawas Wassanont of Avantgarde Capital Company Limited acted as preparer for the offer. Krungsri Securities Public Company Limited acted as agent for the offer. Hunton Andrews Kurth (Thailand) Limited acted as legal advisor for the offer. PricewaterhouseCoopers International Limited acted as accountant for Delta Electronics, Inc. Discover Management Co., Ltd. acted as independent financial advisor to Delta Electronics (Thailand) Public Company Limited. Delta Electronics Int'l (Singapore) Pte. Ltd completed the acquisition of 42.9% stake in Delta Electronics (Thailand) Public Company Limited (SET:DELTA) for THB 37.9 billion on April 2, 2019. During the tender offer period, 534.5 million shares were tendered and accepted.