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Tongye Technology: Calls Off Acquisition of 91.69% Equity Interest in Silink Semiconductor
3 hour ago /
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Author：小编
Tongye Technology has made an announcement stating that the company had initially intended to purchase, in cash, a 91.69% equity interest in Beijing Silink Semiconductor Technology Co., Ltd. However, due to the extended duration of the transaction process and the seasonal effects on the target company, which operates within the power sector, the projected losses during the transitional phase, along with the compensation sums, surpassed initial estimates. This has consequently diminished the practicality of the deal. Following thorough deliberation and consultations, the company has opted to abandon this significant asset restructuring initiative.
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