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United States: DOJ Provides Guidance On Factors That Will Influence Future Bank Merger Reviews - Manatt, Phelps & Phillips LLP
Credit: Mondaq- Published on June 26, 2023
In remarks before the Brookings Institution on June 20, 2023, Assistant United States Attorney General (AAG) Jonathan Kanter provided detailed insights into the work by the Department...
Video credit: Wibbitz Top Stories
Published on June 28, 2023 - 01:31
Japan-Backed Fund to Buy Chipmaker JSR
Japan-Backed Fund, to Buy, Chipmaker JSR.
On June 26, Japan announced plans to bolster its chip
industry with a government-supported fund to
purchase semiconductor materials producer JSR Corp.
The $6.4 billion move by Japan
Investment Corp (JIC) will be overseen
by the country's powerful trade ministry. .
Reuters reports that the move is the latest by the government to regain Japan's dominance in advanced chip production.
In late December, JIC reportedly plans to offer
4,350 yen per share ($30) to take JSR private. .
Financing for the massive deal will be provided
by Mizuho Bank and the government-supported
Development Bank of Japan (DBJ). .
Ahead of the official announcement, shares in
JSR reached their daily limit, rising by 22%.
Reuters reports that the news also increased expectations
of sector consolidation, which drove shares in Tokyo Ohka
Kogyo, Sumitomo Chemical and Shin-Etsu Chemical up. .
Capabilities here are superb,
but there are a lot of us and all of
us are spending money redundantly,
so we feel the opportunities for
efficiency gains are significant, Eric Johnson, JSR CEO, via Reuters.
News of the deal comes as the United States
looks to increase domestic chip manufacturing
capacity amid deepening tensions with China.
News of the deal comes as the United States
looks to increase domestic chip manufacturing
capacity amid deepening tensions with China.
Reuters reports that both the Netherlands and
Japan have joined the U.S. in placing restrictions
on the export of chipmaking tools to China
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