EUR 700 M DEAL - GCI to launch offer for AIXTRON SE
GCI to launch offer for AIXTRON SE
Herzogenrath, Germany, May 23, 2016 - AIXTRON SE (FSE: AIXA; NASDAQ: AIXG)
("AIXTRON") and Grand Chip Investment GmbH ("Grand Chip Investment"), a
100% indirect subsidiary of Fujian Grand Chip Investment Fund LP ("FGC"),
have today entered into an agreement to take over AIXTRON. Fujian Grand
Chip Investment Fund LP is a Chinese investment fund; 51% of which is held
by the Chinese business man Zhendong Liu and 49% by Xiamen Bohao Investment
Ltd.
Pursuant to the agreement, Grand Chip Investment has today announced its
decision to launch a voluntary public takeover offer to acquire all of the
outstanding ordinary shares of AIXTRON SE, including all ordinary shares
represented by AIXTRON ADS. Under the terms of the agreement, AIXTRON
shareholders will be offered 6.00 Euros in cash per each ordinary share.
The transaction values AIXTRON's equity, including net cash, at
approximately 670 million Euros and reflects a 50.7% premium to the three-
month volume weighted average share price prior to announcement. The offer
shall be subject to certain closing conditions, including regulatory
approvals and a minimum acceptance threshold of 60% of all of AIXTRON's
outstanding shares.
The agreement sets out the purpose and the principal terms of the
transaction with FGC and the future strategy. FGC intends to support
AIXTRON's strategy going forward. R&D competency and AIXTRON's existing
technology shall be maintained at the existing technology centers. FGC has
also agreed that AIXTRON shall further strengthen its technology and IP
Portfolio, which shall remain vested with AIXTRON, including in Germany.
AIXTRON's existing global set up will be maintained and expanded with
AIXTRON's three technology hubs in Herzogenrath (Germany), Cambridge (UK)
and Sunnyvale (USA). Further international technology hubs may be
established. AIXTRON's legal domicile and headquarters shall remain in
Herzogenrath, Germany.
In the event the takeover is successful, Martin Goetzeler is to remain CEO
of AIXTRON and Dr. Bernd Schulte is to remain in his function as COO.
Following a successful closing of the transaction it is anticipated that
Grand Chip Investment will nominate four candidates to the six-member
Supervisory Board.
About AIXTRON
AIXTRON SE is a leading provider of deposition equipment to the
semiconductor industry. The Company was founded in 1983 and is
headquartered in Herzogenrath (near Aachen), Germany, with subsidiaries and
sales offices in Asia, United States and in Europe. AIXTRON's technology
solutions are used by a diverse range of customers worldwide to build
advanced components for electronic and opto-electronic applications based
on compound, silicon, or organic semiconductor materials. Such components
are used in a broad range of innovative applications, technologies and
industries. These include LED applications, display technologies, data
storage, data transmission, energy management and conversion,
communication, signaling and lighting as well as a range of other leading-
edge technologies.