Wonik IPS Co., Ltd. cancelled the acquisition of Tera Semicon Corporation.
November 06, 2016
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Wonik IPS Co., Ltd. (KOSDAQ:A240810) agreed to acquire Tera Semicon Corporation (KOSDAQ:A123100) for approximately KRW 240 billion on September 9, 2016. Wonik IPS Co. will issue 1.0548004 shares of its common stock as consideration for each Tera Semicon share. A total of 10.6 million Wonik IPS Co. shares will be issued in the merger. Post completion, Wonik IPS Co., Ltd. will be the surviving company. As reported on September 29, 2016, the terms of the deal were revised. Wonik IPS will now issue 11.9 million shares as consideration. The expected shareholders' meeting date of Wonik IPS Co. Ltd. is November 7, 2016. The merger is expected to be effective from December 21, 2016 and registration date is expected to be December 22, 2016.
Wonik IPS Co., Ltd. (KOSDAQ:A240810) cancelled the acquisition of Tera Semicon Corporation (KOSDAQ:A123100) on November 7, 2016. Shareholders of Wonik IPS Co., Ltd. and Tera Semicon Corporation disapproved the transaction.
Wonik IPS Co Ltd is a Korea-based company principally engaged in the production and sale of equipment for manufacturing semiconductors, displays and solar cells. The Company's main products include plasma enhanced chemical vapor deposition (PECVD), ALD, diffusion thermal systems, dry etchers, low temperature poly silicon (LTPS) furnaces, pi curing, radar interface equipment (RIE) etchers. In addition, the Company sells parts necessary for equipment and device maintenance, and provides technical services.
WONIK IPS CO., LTD 
