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Chartered Semiconductor sets shareholder meetings for Nov. 4
By Jennifer Chiou
New York, Oct. 9 - Chartered Semiconductor Manufacturing Ltd. announced Nov. 4 as the date for the extraordinary meeting of shareholders to be held in connection with its proposed acquisition by ATIC International Investment Co. LLC.
As previously reported, Oct. 5 is the record date for the meeting. It is also the record date for the court meeting of shareholders that will be convened at the direction of the Singapore Court.
As already noted, Chartered agreed to be acquired by ATIC for S$2.68 per share in a scheme of arrangement under Singapore law.
Each of Chartered's American Depositary Shares will be exchanged for an estimated $18.641.
The transaction, valued at $3.9 billion including debt, is expected to close in the fourth quarter.
The company also gave notice of a class meeting for the holders of its convertible redeemable preference shares. This meeting will also be held Nov. 4.
Also on Friday, the company, through Citibank, NA, the depositary bank of its American Depositary Share program, gave notice to ADS holders on how they may give instructions on the voting of the ordinary shares underlying their ADSs at the court meeting and the extraordinary general meeting.
ATIC, a technology investment company owned by the government of Abu Dhabi, created GlobalFoundries Inc., a Sunnyvale, Calif., semiconductor manufacturer, in March in a joint venture with Advanced Micro Devices Inc.
As already noted, GlobalFoundries chief executive officer Doug Grose will be the CEO of the combined company. Chartered CEO Chia Song Hwee will be the chief operating officer.
Chartered is a Singapore-based company that provides wafer fabrication services and technologies to semiconductor suppliers and systems companies primarily in North America, Europe and Asia.
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