ProMOS Technologies failed, for the second time, on December 12 to sell its 12-inch fab located in Taichung, central Taiwan, through an open bid despite offerings from Vanguard International Semiconductor (VIS) and Globalfoundries.

Globalfoundries lost its qualification to win the bid as the US-based foundry house made an offer in a US dollar-denominated check without presenting a letter of credit, according to industry sources.

The offer from VIS was lower than the bottom price set up by ProMOS, pushing VIS and ProMOS to enter direct negotiations for a deal.

However, the two sides failed to reach an agreement as ProMOS was reluctant to lower its selling price, the source noted. ProMOS set the bottom price at NT$19.5 billion (US$670.33 million).

It remains to be seen if ProMOS will hold a third round of open bids to sell the 12-inch fab.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved