Taiwan-based notebook battery makers Dynapack International Technology and Celxpert Energy were originally planning to complete their merger on December 31, but as the two firms are currently in a disagreement over the stock swap ratio, the merger is expected to be postponed to 2011.
The companies indicated that they are currently in talks about the related issues and high-level executives are scheduled for further meetings.
Dynapack recently announced that it wishes to renegotiate the stock swap ratio and postponed the merger. Celxpert also announced on October 29 and November 1 that Dynapack's statements have greatly affected the rights of its shareholders, and it will consult legal council to evaluate the situation.
The two companies are still interested in the merger, according to industry sources, but more negotiation is needed to reach an agreement
The respective boards of Dynapack and Celxpert on September 28 had approved the merger of the two companies through a stock swap of 1:1.7, with Dynapack to be the surviving company effective on December 31, 2010.
Dynapack and Celxpert are currently the second and third largest Taiwan-based makers of notebook batteries, and the merged company is expected to become the world's third largest supplier of notebook batteries with a 16-17% projected market share.
Article translated by Willie Teng
