UK-based semiconductor manufacturer IQE is in advanced negotiations regarding a “potential significant acquisition”, said the company in a regulatory filing today.
IQE, whose products can be found in a variety of applications including GPS and…
UK-based semiconductor manufacturer IQE is in advanced negotiations regarding a “potential significant acquisition”, said the company in a regulatory filing today.
IQE, whose products can be found in a variety of applications including GPS and satellite communications, said it was evaluating financing options for the possible deal. It added that these discussions include debt and equity finance.
“The pricing, sizing and terms of any equity financing will be subject to market conditions and demand,” it stated.
The filing came following a report that claimed the group was looking to raise £17.5m for a deal likely to be in the renewable energy sector – where it has recently struck a commercial agreement to sell to solar panel manufacturers. The report added that Canaccord Genuity is helping IQE sell 70 million new shares at 25p each.
IQE was unable to comment.
Headquartered in Cardiff, the company has itself faced takeover speculation as manufacturers look to bolster the materials behind their businesses to satisfy the demand for ever-faster components. Press speculation valuing IQE at £176m have suggested Intel of the US as being the most likely buyer.
On IQE’s website, it lists Lloyds as its principle banker, M & A Solicitors as legal adviser, and Execution Noble & Company as nominated adviser and broker.
