Shareholders of Singapore’s state- controlled Chartered Semiconductor Manufacturing Ltd. approved an offer by Abu Dhabi to buy the world’s third-biggest maker of customized chips for S$2.5 billion ($1.8 billion), Jim Norling, chairman of the Singaporean company, said today.
Advanced Technology Investment Co., an investment company owned by Abu Dhabi, will pay S$2.68 ($1.86) a share in cash for Chartered Semiconductor, ATIC said on Sept. 7. That compares with the closing price of S$2.66 on Sept. 4, and is 14 percent more than the company’s 30 trading-day volume weighted average price.
Abu Dhabi plans to combine the maker of chips used in Microsoft Corp.’s Xbox 360 game console with Globalfoundries Inc., a venture ATIC created with Advanced Micro Devices Inc. last year, to create a challenger to United Microelectronics Corp., the world’s second-biggest maker of customized chips.
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