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SMIC Secures First Regulatory Approval for Largest M&A in China Wafer Foundry
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SMIC Secures First Regulatory Approval for Largest M&A in China Wafer Foundry
Chinese semiconductor powerhouse has secured the first regulatory clearance for the largest merger and acquisition deal in the history of China’s wafer foundry industry. The M&A and Reorganization Review Committee of the Shanghai Stock Exchange approved the company’s private placement yesterday, enabling it to fund the acquisition of the remaining shares it does not yet own in its North division. The deal is now under review by the regulatory au…
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