Abu Dhabi firm offers to buy Chartered Semiconductor 7289 7608 PakRealEstateTimes.Com

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Abu Dhabi firm offers to buy Chartered Semiconductor

09-08-2009, 05:05 AM

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LahoreEstate Offline

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Abu Dhabi firm offers to buy Chartered Semiconductor

SINGAPORE: An Abu Dhabi investment firm has offered to buy Singapore’s Chartered Semiconductor for $3.9 billion, which would create one of the world’s largest microchip makers, officials said Monday. The buyout by Advanced Technology Investment Company (ATIC) comes as chip companies around the world look to boost sales after being hit hard by falling demand brought about by the global slump. Chartered chairman James Norling said the firm had been looking at several ‘potential strategic options’ and the offer from ATIC was the best. “After carefully looking at all of these strategic options in front of us, we believe this proposal is definitely worthy for the company shareholders to consider,” he said at a news briefing. afp

http://www.dailytimes.com.pk/default.asp...009_pg5_38

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