WT Microelectronics opposes WPG's acquisition request
Eric Cheng, chairman of WT Microelectronics, held a press conference on the WPG's public acquisition of shares on the 26th. At the press conference, Eric stated that he strongly rejected WPG's request for share acquisition and will never compromise.
Eric said that WPG and WT Microelectronics' combined market share in the top 10 electronic component distributors in the Asia Pacific region exceeds 50%. If the two companies merge or cooperate in any way in the future, it will cause irreversible and significant harm to the electronic component distribution industry in the Asia-Pacific region.
Eric pointed out that he has received a lot of calls from customers, stating that they will immediately withdraw orders as long as there is a possibility of monopoly. In addition, Eric analyzes that if WPG acquires a 30% stake in WT, it will become a substantial shareholder of WT, which will make it possible for WPG to have substantial control over WT.
In order to urge the competent authority Fair Trade Commission to address this far-reaching issue, Eric has formally submitted a request letter to the Taiwan Fair Trade Commission.