SMIC Wins Exchange Review Approval for $5.9B SMIC North Buyout, Consolidating 12-Inch Foundry Capacity
SMIC’s share issuance and asset acquisition plan to purchase the remaining 49% of SMIC North has been approved by the Shanghai Stock Exchange M&A Review Committee, according to the source. Valued at RMB 40.601 billion ($5.9 billion), the deal would make SMIC North a wholly owned subsidiary and is described as the largest M&A in China’s wafer foundry industry.