TOKYO : JSR Corp, which plans a $6.4 billion sale to a government-backed fund, says the deal to go private will free it from the difficulty of managing its large foreign investor base and make it easier to pursue deals in the chip materials sector. The announcement last month that JSR would be bought by J
TOKYO : JSR Corp, which plans a $6.4 billion sale to a government-backed fund, says the deal to go private will free it from the difficulty of managing its large foreign investor base and make it easier to pursue deals in the chip materials sector.
"When we're 50 per cent foreign owned that gives people pause within Japan," Johnson said in an interview. Johnson said he previously had"high-level" discussions with potential partners but believes the new ownership structure will open doors.JSR, a supplier to chipmakers such as TSMC, Samsung and Intel, has investors including ValueAct Capital, which has a seat on the board.
Companies often view the presence of an activist investor as a challenge to their strategy or a factor that could delay execution of their plans. "There are many companies that are already competitive in the materials industry and it is difficult to see synergies through consolidation," said Atsushi Ikeda, an analyst at Goldman Sachs.
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