Japan's $6.4bn JSR deal boosts chip supply chain
TL;DR Summary
Japan Investment Corp (JIC), a government-backed fund, has agreed to buy semiconductor materials maker JSR Corp for $6.4 billion in an effort to boost Japan's competitiveness in the chip industry. JIC plans to launch a tender offer in late December offering a 35% premium to Friday's closing price to take JSR private. The move raised expectations of sector consolidation, driving shares in peer Tokyo Ohka Kogyo 10% higher, while Sumitomo Chemical and Shin-Etsu Chemical each rose 2%.
Topics:business#business#chip-industry#government-backed-fund#japan#jsr-corp#semiconductor-materials
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