Siliconware Precision Industries (SPIL), which has failed to get enough support from its shareholders for a share-swap deal with Foxconn Electronics (Hon Hai Precision Industry), will look for other ways of carrying out the deal, according to company chairman Bough Lin.
SPIL will continue to insist that partnering with Foxconn is an important move for SPIL to enhance the competitiveness of its SiP (system-in-package) business, said Lin.
Shortly after SPIL's provisional shareholders meeting where its proposed share swap with Foxconn was rejected, SPIL announced it has filed a civil lawsuit in Taiwan against ASE requesting the court confirm that ASE does not have the right to register as a shareholder of the company.
ASE has claimed several times its tender offer was a "purely financial investment". However, ASE has acted with a competitor's mindset and repeatedly criticized the company's alliance with Foxconn, SPIL noted.
"ASE's tender offer prospectus was a sham, concealing the true purpose of ASE's tender offer, thereby ASE's tender offer violated the Securities and Exchange Act, Fair Trade Act and other related regulations and breaching public order, and thus should be invalid," SPIL said in a statement.
Article translated by Jessie Shen
