Market Chatter: GlobalFoundries, United Microelectronics Exploring Merger

MT Newswires Live

03/31

GlobalFoundries (GFS) and United Microelectronics (UMC) are exploring a possible merger, Nikkei Asia reported Monday, citing an assessment plan it viewed.

According to the plan, a merger would create a bigger, US-based company with a production footprint across Europe, Asia and the US, the report said.

Neither company immediately replied to a request for comment from MT Newswires.

UMC shares were more than 14% higher in recent trading, while GlobalFoundries was up 0.5%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 37.36, Change: +0.46, Percent Change: +1.26

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