By Cecilia Butini


Shares in chip maker Siltronic AG fell in opening trade on Monday after the company said that a proposed takeover by Taiwan-based company GlobalWafers Co. still hasn't been approved by the German government.

At 0817 GMT, Siltronic traded down 8.9% at EUR126.15.

GlobalWafers's bid is dependent on clearance by the German government, and Siltronic said it is yet to receive information from the economic ministry on the conditions for obtaining clearance.

The bid, which is for 145 euros a Siltronic share, would value the equity at 4.20 billion euros ($4.79 billion). It is set to expire on Jan. 31.


Write to Cecilia Butini at cecilia.butini@wsj.com


Corrections & Amplifications

This story was corrected on Feb1, 2022. The earlier version incorrectly said that GlobalWafers raised the offer price for Siltronic to EUR140 a share. The price was raised to EUR145.

(END) Dow Jones Newswires

01-17-22 0351ET