The Anti-Monopoly Bureau in China has lifted its restrictive conditions on the joint establishment of ASE Technology Holding by Advanced Semiconductor Engineering (ASE) and Siliconware Precision Industries (SPIL), according to ASE Technology.
ASE Technology received an official notification from the Chinese regulatory body on March 25 about the lifting of the restrictions imposed in November 2017 as a rider for its conditional approval of the ASE-SPIL merger deal raised in June 2016.
The restrictive terms called for ASE and SPIL to maintain their respective independent management, accounting, personnel, pricing, sales, capacity and procurement systems within a specified period of time.
Now that the restrictions are removed, ASE and SPIL are expected to enter closer cooperation significantly further boosting the synergy and R&D momentum of ASE Technology, according to industry sources.
Both firms will continue to cement support from their respective major clients and strengthen anti-virus efforts in the short term, the sources said, adding that many wire-bonded packaging orders have returned to their plants in Taiwan thanks to the country's strong performance in battling the coronavirus.