China can be proposed to cross the sea mergers and acquisitions of U.S. companies MEMSIC

Still suspended in the HC semitek yesterday (20) evening announcement, said the acquisition target for MEMS sensor (MEMS) the world's leading enterprise MEMSIC, INC. (USA) (MEMSIC semiconductor).

Announcement shows that the company is currently the initial restructuring plan for the issue of shares to buy assets, namely: the underlying assets for the harmonious core optical (Yiwu) Photoelectric Technology Co. Ltd. (hereinafter referred to as "SPV"), from the SPV to the transaction of the Target Corp shareholders to buy 100% stake in the Target Corp. The transaction Target Corp MEMSIC, INC. (USA), is the world's micro electromechanical (MEMS) sensor industry leading technology companies.

The transaction is the subject of the controlling shareholder of the assets of the Yiwu core light equity investment partnership (limited partnership). The company has signed an investment framework agreement with SPV and its controlling shareholders, which has been prepared for the Shenzhen stock exchange. The transaction price of Target Corp in 2017 net profit forecast (in the lower before and after deduction of non determination principle) of 15 to 20 times earnings to determine the valuation basis, and agreed to the final transaction price assessment confirmed the price shall prevail.

The parties confirm that, in this transaction, the underlying assets of SPV acquisition of 100% stake in the Target Corp for matters Chinese firms to buy overseas, to the competent departments of Commerce, development and Reform Commission, the foreign exchange administrative department and other relevant departments of the approval and filing, the transaction has not yet been performed to the relevant department for examination and approval procedures.

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