China’s hunger for chips stirs deal spree

Jiangsu Changjiang makes non-binding proposal for Stats ChipPAC as Chinese firms widen search for semiconductor companies amid government support.

China’s hunger for chips stirs deal spree

China's push to build up its semiconductor industry has spurred acquisitions and brought previously low profile Chinese buyers to the fore.

Jiangsu Changjiang Electronics Technology became the latest to jump on the bandwagon on Thursday, when it made a non-binding proposal to acquire all the shares in Singapore's Stats ChipPAC for $780 million. According to a source familiar with the matter, Stats ChipPAC has about $1 billion in debt, putting the enterprise value at about $1.8 billion....

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