Advanced Semiconductor Engineering (ASE) Merger

A Compass Lexecon team, led by expert Dr. Mark Israel, was retained by Davis Polk & Wardwell LLP, counsel for Advanced Semiconductor Engineering (ASE) to assist with obtaining regulatory approval of its proposed merger with Siliconware Precision Industries (SPIL). The two Taiwanese companies are among the largest providers of Outsourced Semiconductor Assembly and Test (OSAT) services in the world. Dr. Israel first submitted reports and oral testimony to the Taiwan Fair Trade Commission (TFTC), which approved the transaction in November 2016. Dr. Israel and Compass Lexecon then assisted ASE in obtaining approval from the U.S. Federal Trade Commission (FTC), which cleared the proposed transaction in May 2017.

Dr. Israel’s and Compass Lexecon’s analyses focused on market definition, providing economic evidence in support of a broad relevant market including all semiconductor packaging and testing services worldwide. In addition, Dr. Israel and the Compass Lexecon economists conducted a study of competitive effects, demonstrating that the transaction was unlikely to cause significant harm to competition.

Dr. Israel was supported by a team led by Georgi Giozov that included Jason Wu, Cathy Barron, Wei Tan, Prerana Nanda, Jacky Chen and Sharon Su. The Compass Lexecon team worked closely with Ronan Harty, Joel Cohen, Michael Sohn, Lincoln Meyer and Tina Wang of Davis Polk & Wardwell LLP.