acquire all shares it doesn't already own in ASE Test Ltd. for US$784 million and delist the Nasdaq-traded unit to cut costs. Advanced Semiconductor will pay US$14.78 a share in cash for about 49 percent of ASE Test, the company said in a statement yesterday. Kaohsiung, Taiwan-based Advanced Semiconductor expects to complete the purchase in December before delisting the shares.
The offer is 26 percent more than ASE Test's US$11.77 close on Aug. 31. U.S. markets were shut for the Labor Day holiday on Sept. 3. ASE Test shares traded in Taipei climbed 0.8 percent to close at NT$5.40 yesterday, before the announcement.
