Sanan Optoelectronics to buy GCS for $226m

Chinese LED maker’s offer for the US firm is yet another example of China’s huge acquisitive interest in foreign semiconductor assets but may face regulatory hurdles.

China’s huge acquisitive interest in foreign semiconductor business does not seem to be cooling down despite a slowing domestic economy In fact, Chinese enterprises may now have more pressure to adopt the “go-abroad” strategy to stimulate growth

Shanghai-listed Sanan Optoelectronics, China’s biggest LED manufacturer by production volume, is the latest company to response to Beijing’ call to buy foreign semiconductor assets On Friday, the company offered to fully acquire California-based semiconductor wafer maker Global Communication Semiconductors for $226 million

According to its announcement on the Shanghai stock exchange, Sanan intends to purchase the company by acquiring its Taiwan-listed holding firm GCS Holdings, including all common shares and two batches of local convertible bonds due 2018...

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