Chartered Semiconductor sets record date for shareholder meetings

By Lisa Kerner

Charlotte, N.C., Sept. 28 - Chartered Semiconductor Manufacturing Ltd. set Oct. 5 as the record date for the extraordinary meeting of shareholders to be held in connection with its proposed acquisition by ATIC International Investment Co. LLC.

It is also the record date for the court meeting of shareholders that will be convened at the direction of the Singapore Court, according to a Chartered Semiconductor news release.

No meeting dates were announced.

As previously reported, Chartered agreed to be acquired by ATIC for S$2.68 per share in a scheme of arrangement under Singapore law.

Each of Chartered's American Depositary Shares will be exchanged for an estimated $18.641.

The transaction, valued at $3.9 billion including debt, is expected to close in the fourth quarter of 2009, Chartered said.

ATIC, a technology investment company owned by the government of Abu Dhabi, created GlobalFoundries Inc., a Sunnyvale, Calif., semiconductor manufacturer, in March in a joint venture with Advanced Micro Devices Inc.

GlobalFoundries chief executive officer Doug Grose will be the CEO of the combined company. Chartered CEO Chia Song Hwee will be the chief operating officer.

Chartered is a Singapore-based company that provides wafer fabrication services and technologies to semiconductor suppliers and systems companies primarily in North America, Europe and Asia.

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