Diodes to acquire Lite-On Semiconductor for $428m.

Diodes, a manufacturer and supplier of semiconductors, agreed to acquire Lite-On Semiconductor, a Taiwan-based supplier of "green" power-related discrete and analog semiconductor devices, for $428m. "The transaction meets our criteria for strategic acquisitions and is expected to be immediately accretive to our earnings. We look forward to further leveraging Diodes'Diodes' strong manufacturing know-how to drive increased operational and cost efficiencies, while also improving utilization of LSC'sLSC's production facilities in Taiwan and China," Dr. Keh-Shew Lu, Diodes CEO. In order to facilitate the review by the relevant Chinese authorities on the share swap transaction between LSC and Diodes Technologies Taiwan, on January 8, 2020 LSC held a board meeting where a resolution has been reached to sell 16.5% of On-Bright Electronics Incorporated held by LSC. Diodes received regulatory approvals from the Taiwan authorities for its acquisition.