Update on SNOW and SPIL

A quick update on couple transaction posted on www.specialsituationinvestments.com

SNOW – currently trades at $8.28 vs lower buyout limit of $9. Tender Offer closes in a week.

SPIL – provided update regarding regulatory approval as well as extension of offer till March 17th (here). Response from the regulator was: “With respect to the filing of the merger of enterprises between Advanced Semiconductor Engineering, Inc. and Siliconware Precision Industry Co., Ltd., the Fair Trade Commission has accepted the application on February 2, 2016. Unless the Commission shortens or extends the review period, prohibits the proposed transaction or decides not to exercise its jurisdiction in writing, the participating parties may proceed with the merger on or after March 3, 2016”. Management appears to regard this responce from FTC as an optimistic.