GlobalWafers wins conditional approval from China for Siltronic acquisition
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Taiwan's GlobalWafers won conditional approval from China for its planned acquisition of Siltronic (OTCPK:SSLLF).
China's State Administration for Market Regulation ("SAMR") approved the purchase, according to a listing on its website.

The news comes after DealReporter yesterday said that approval of the deal was imminent, which followed reports from Bloomberg last week that the deal was close to gaining Chinese antitrust approval.

The Siltronic deal still needs approval in Germany, though Siltronic said last week it hasn't heard from Germany regulators on its proposed remedies.
Risk arb traders may see the potential deal approval as positive for AMD's (NASDAQ:AMD) planned acquisition of Xilinx (NASDAQ:XLNX), which is still awaiting Chinese approval.
Earlier this week there was a report that China's antitrust regulator was working on a sign-off procedure for the XLNX/AMD deal.