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Japan's $6.4bn JSR deal boosts chip supply chain

1 min read
Source: Reuters
Japan's $6.4bn JSR deal boosts chip supply chain
Photo: Reuters
TL;DR

Japan Investment Corp (JIC), a government-backed fund, has agreed to buy semiconductor materials maker JSR Corp for $6.4 billion in an effort to boost Japan's competitiveness in the chip industry. JIC plans to launch a tender offer in late December offering a 35% premium to Friday's closing price to take JSR private. The move raised expectations of sector consolidation, driving shares in peer Tokyo Ohka Kogyo 10% higher, while Sumitomo Chemical and Shin-Etsu Chemical each rose 2%.

Topics:business#business#chip-industry#government-backed-fund#japan#jsr-corp#semiconductor-materials
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  1. Japan-backed fund to buy chip materials maker JSR for $6.4 bln  Reuters
  2. Japan to buy semiconductor materials giant for $6.3 billion  Axios
  3. Japan steps into chip supply chain with $6.4bn JSR deal  Financial Times
  4. Japan backed fund to buy chip materials maker JSR for $6.4 billion  AOL
  5. Japan Chip Linchpin Soars on $7 Billion Government Buyout Talk  Yahoo Finance

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