Abstract
On August 21, 2015, there was a merger and acquisition (M&A) case in Taiwan’s semiconductor industry. When TAIEX index took a nosedive even fell below the lowest record of the past decade, Advanced Semiconductor Engineering (ASE), the world-leading packaging and testing industry firm launched an offer to acquire nearly 25 percent stake of competitor Siliconware Precision Industries Co. Ltd. (SPIL) whose annual output value is the third-ranked in the world. If the M&A program is successfully completed, the result will enable ASE become a majority shareholder of SPIL. Since SPIL claimed they knew nothing about the M&A plan beforehand, they issued a statement accusing ASE of conducting a “hostile takeover”. The research is conducted by collecting and collating multiple sub-data which the total number of articles are about 14,000, and identifies the motivation and related effect of the M&A case from SPIL’s point of view. First of all, understanding the history and management style of SPIL and ASE separately. Second, discussing the characteristics of the semiconductor packaging industry and analyzing its trends in recent years. Finally, because the attack and defense between them do not stop in a short time, it is suggested that this M&A case about ASE and SPIL is worthy of attention in the future.