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GlobalWafers agreed to acquire the Silicon Business (FZ and CZ) of Denmark’s Topsil Semiconductor Materials A/S (CPH: TPSL) (Copenhagen Stock Exchange) for $48 million. SunEdison shareholders will receive $12.00 per share in cash, representing a 78.6% premium over SunEdison’s common stock average closing price during the previous 30 trading days, and a 44.9% premium to its closing price on August 17, 2016. “We are pleased to have reached an agreement that delivers a significant premium to our shareholders,” said SunEdison’s president and chief executive Shaker Sadasivam. “We are very excited by this transaction,” said Doris Hsu, chairperson and CEO of GlobalWafers. “We believe this combination is unique in that it merges two of the market’s key suppliers with minimal overlap in customers, products and production capacities.” The deal has been unanimously approved by both GlobalWafers’ and SunEdison’s boards of directors, and is subject to customary closing conditions including shareholder’s and regulatory approvals. SunEdison has obtained a waiver from the Securities Industry Council of Singapore concerning its sale to GlobalWafers. GlobalWafers will finance the takeover and debt refinancing through existing cash and committed financing from the Bank of Taiwan, Hua Nan Commercial Bank, Mega International Bank, Taipei Fubon Bank, and Taishin International Bank. Nomura Securities is acting as sole financial advisor to GlobalWafers, and White & Case LLP is acting as legal advisor to GlobalWafers. Barclays is acting as financial advisor to SunEdison, and Bryan Cave LLP and Rajah & Tann Singapore LLP are acting as legal advisors to SunEdison. Australia and New Zealand Banking Group is acting as independent financial advisor to the directors of SunEdison.]]>