A move to create a big rival to the Taiwanese companies that dominate the semiconductor industry was launched yesterday by Abu Dhabi with a $1.8bn offer for Chartered Semiconductor Manufacturing, the loss-making Singaporean foundry chipmaker.
In a deal likely to herald further consolidation in a troubled sector, the emirate's Advanced Technology Investment Company plans to merge the Singaporean company into Globalfoundries, its joint venture with Advanced Micro Devices of the US. The move would create the world's fourth-biggest foundry chipmaker.
ATIC has offered S$2.68 a share for Chartered, slightly above its Friday close of S$2.66.
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