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Simpson Thacher & Bartlett represented United Microelectronics Corporation, the second largest independent semiconductor foundry in the world, in its acquisition of He Jian Technology (Suzhou) Co., Ltd., an independently operated semiconductor foundry, which operates an 8-inch fab with a monthly capacity of 41,000 wafers in Suzhou, China. The value of the transaction is approximately $335 million.

Under the terms of the definitive agreement governing the acquisition, holders representing 85% of the ownership interest of the holding company that indirectly owns He Jian will receive an aggregate consideration of approximately $285 million. These holders may elect to receive payment in the form of cash or an equivalent value of United Microelectronics Corporation common stock or American Depositary Shares. The remaining 15% ownership interest is held in trust for United Microelectronics Corporation.

The Simpson Thacher team on the deal included Chris Lin, Liang Wang, Peng Tan and Richard Lin (M&A), Asher Hsu (Securities), Daniel Foster (Tax) and Michael Naughton and William Kearney (Antitrust). Legal consultant Frank Chen also provided valuable assistance.