WT Microelectronics Co., Ltd. entered into a definitive agreement to acquire Future Electronics Inc. for an enterprise value of $3.8 billion.
September 13, 2023
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WT Microelectronics Co., Ltd. (TWSE:3036) entered into a definitive agreement to acquire Future Electronics Inc. for an enterprise value of $3.8 billion on September 14, 2023. WT Microelectronics intends to fund the transaction with a combination of cash on hand and committed debt financing provided by DBS Bank. WT Group gets $1.9 billion syndicated loan for acquisition. The transaction has been unanimously approved by WT Microelectronics? Board of Directors and Future Electronics? Board of Directors, and is expected to close in the first half of 2024, subject to customary closing conditions including the receipt of required regulatory approvals.
Citigroup is serving as the exclusive financial advisor to WT Microelectronics, with Michael J. Mies, John Adebiyi, Frederic Depoortere, Nathan W. Giesselman, Michael E. Leiter, Mair, Peter, Leila B. Sayegh, Annie Villanueva Jeffers, David Wales and Joseph M. Yaffe of Skadden, Arps, Slate, Meagher & Flom LLP, Osler, Hoskin & Harcourt LLP, and Tsar & Tsai Law Firm as its legal advisors. David Kassie, Jamie Nagy and Thierry Nguyen of Canaccord Genuity Corp. acted as financial advisor to Future Electronics with Daniel H. Follansbee, Ran Zioni, Nicholas V. Perricone, Robert G. Kidwell, Matthew B. Gautier, Joseph W. Price, Benjamin Ferrucci, Mitch Frazer, Eric L. Foster, Brad Tartick and Matthew Imrie of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. and Mintz LLP as its legal advisor, Davies Ward Phillips & Vineberg LLP acted as tax counsel to Future Electronics Inc in it's sale to WT Microelectronics Co., Ltd.
WT MICROELECTRONICS Co., Ltd. is a Taiwan-based company principally engaged in the research and development, manufacture and distribution of semiconductor products. The Companyâ products include integrated circuits (ICs), ICs for specific applications, analog ICs (including linear ICs), discrete components, chipsets, logic ICs, mixed signal ICs, memory ICs, programmable ICs, micro processing units (MPUs) and others. The Company distributes products under the brands named Abilis, Ambarella, Aptina, Avago, Chime, EXAR, Fairchild, Fangtek, Freescale, IR, Linear, LG, LSI, Magnachip, Marvell, Maxim, Micron, ON, PMC_SIERRA, Realtek, Renesas, Ritdisplay, Silion lab, ST Microelectronics, TI and others. The Company operates its businesses primarily in the Asia-Pacific region, the Americas, Europe, Japan and others.
WT MICROELECTRONICS CO., LTD. 
