carlyle-abandons-bid-for-taiwans-ase

Carlyle abandons bid for Taiwan's ASE

ASE's share price rises to a seven-year high as Carlyle withdraws its offer to buy the Taiwanese semiconductor company.
Shareholders in Taiwan's Advanced Semiconductor Engineering ASE have welcomed a decision by Carlyle to withdraw its offer for the company on Tuesday, pushing ASE's share price up 3.2% to a seven-year high.

ôThere was a difference of opinion between the parties on the fair valuation of the company,ö vice president of ASE, Freddie Liu, tells FinanceAsia.

On November 24 last year, Carlyle announced that it would act in concert with ASE founder and CEO, Jason Chang, to buy-out all minority shareholders and take the company private. Carlyle offered NT$39 $1.19 per share which suggested an equity value for the Taiwanese semiconductor testing company of around $6 billion.

But the...
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