United Microelectronics shares close up 9% on report of potential GlobalFoundries deal
The combined entity would aim to secure American access to mature chips amid potential risks from China competition and tensions between China and Taiwan.
U.S. semiconductor manufacturer GlobalFoundries is reportedly weighing a merger with Taiwan-based United Microelectronics.
U.S. shares of United Microelectronics closed up 9% on the news, while GlobalFoundries shares were flat. Nikkei reported the news, citing sources familiar with the deal.
The merger would create a company based in the U.S with production capabilities in Asia, the U.S. and Europe, according to the report. The combined entity would aim to secure American access to mature chips amid potential risks from China competition and tensions between China and Taiwan, Nikkei reported.