Shares of Sanitar Co (凱撒衛浴) closed up by the daily 10 percent limit yesterday after Sheh Fung Screws Co (世豐螺絲) on Friday announced a tender offer for the maker of sanitary wares under the Caesar brand.
At a news conference after the market closed on Friday, Sheh Fung acting spokesperson Chen Tzu-ying (陳姿吟) said the screw maker would acquire a 20 percent stake in Sanitar at NT$51 per share on the open market.
The offer price suggests a 6.18 percent premium over Sanitar’s closing price of NT$47.85 yesterday. Sheh Fung shares ended up 0.38 percent at NT$52.3.
Photo courtesy of Sheh Fung Screws Co
Sheh Fung would purchase up to 14.52 million common shares of Sanitar from yesterday to March 5, with the deal totaling NT$740.52 million (US$22.55 million) in value, the company said.
The company painted the move as a strategic financial investment to enhance its long-term returns, optimize asset utilization, and advance shareholders’ interests, it said in a statement.
If the tender offer proceeds successfully, Sheh Fung would become the largest shareholder of Sanitar. The company would seek to explore further collaboration with Sanitar regarding resource integration and strategic partnership to boost the synergy effect and corporate value for both companies and their shareholders, it said.
Sanitar, established in 1985, mainly supplies sanitary wares for home renovation, public infrastructure and new construction projects in Taiwan and Vietnam. It reported NT$2.79 billion in revenue last year, up 11.58 percent from the previous year.
Sheh Fung offers products that encompass all sizes of screws used on construction sites and for do-it-yourself home improvement projects. The company’s revenue last year fell 0.05 percent year-on-year to NT$2.32 billion.
Three experts in the high technology industry have said that US President Donald Trump’s pledge to impose higher tariffs on Taiwanese semiconductors is part of an effort to force Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to the negotiating table. In a speech to Republicans on Jan. 27, Trump said he intends to impose tariffs on Taiwan to bring chip production to the US. “The incentive is going to be they’re not going to want to pay a 25, 50 or even a 100 percent tax,” he said. Darson Chiu (邱達生), an economics professor at Taichung-based Tunghai University and director-general of
‘LEGACY CHIPS’: Chinese companies have dramatically increased mature chip production capacity, but the West’s drive for secure supply chains offers a lifeline for Taiwan When Powerchip Technology Corp (力晶科技) entered a deal with the eastern Chinese city of Hefei in 2015 to set up a new chip foundry, it hoped the move would help provide better access to the promising Chinese market. However, nine years later, that Chinese foundry, Nexchip Semiconductor Corp (合晶集成), has become one of its biggest rivals in the legacy chip space, leveraging steep discounts after Beijing’s localization call forced Powerchip to give up the once-lucrative business making integrated circuits for Chinese flat panels. Nexchip is among Chinese foundries quickly winning market share in the crucial US$56.3 billion industry of so-called legacy
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
A move by US President Donald Trump to slap a 25 percent tariff on all steel imports is expected to place Taiwan-made steel, which already has a 25 percent tariff, on an equal footing, the Taiwan Steel & Iron Industries Association said yesterday. Speaking with CNA, association chairman Hwang Chien-chih (黃建智) said such an equal footing is expected to boost Taiwan’s competitive edge against other countries in the US market, describing the tariffs as "positive" for Taiwanese steel exporters. On Monday, Trump signed two executive orders imposing the new metal tariffs on imported steel and aluminum with no exceptions and exemptions, effective
RSS