Diodes Incorporated announced the Company has received approval from the China’s State Administration for Market Regulation (SAMR) to proceed with its planned acquisition of Lite-On Semiconductor (“LSC”), as announced on August 8, 2019.
LSC has initiated the process to terminate its listing on the Taiwan Stock Exchange as of the record date and revoke its public offering with the Taiwan Financial Supervisory Commission.
With the exception of the remaining customary closing conditions, all other conditions to the deal’s closing have been satisfied, including the approvals from the Taiwan Fair Trade Commission, the Investment Commission of the Ministry of Economic Affairs and China’s National Development and Reform Commission and SAMR. Closing is expected to occur by the end of November of this year.
