Davis Polk is advising ChipMOS TECHNOLOGIES INC. (“ChipMOS Taiwan”) in connection with its proposed merger with its parent company, ChipMOS TECHNOLOGIES (Bermuda) LTD. (“ChipMOS Bermuda”), in which ChipMOS Taiwan will become the surviving company. Under the merger agreement, each outstanding ChipMOS Bermuda share will be converted in the merger into $3.71 in cash, without interest, and 0.9355 American Depository Shares, representing 18.71 shares of ChipMOS Taiwan. The merger is currently expected to close in the third quarter of 2016, subject to the satisfaction of customary closing conditions, including the approval of the shareholders of ChipMOS Bermuda and ChipMOS Taiwan and appropriate regulatory approvals.

Headquartered in Hsinchu, Taiwan, ChipMOS Taiwan is listed on the Taiwan Stock Exchange and is an industry leading provider of semiconductor assembly and test services. ChipMOS Bermuda is listed on the Nasdaq and owns 58.3% of the total outstanding share capital of ChipMOS Taiwan.

The Davis Polk corporate team includes partners James C. Lin and Miranda So, counsel Sam Kelso and registered foreign lawyer Meng Ding. Partner John D. Paton and associate Lena X. Qiu are providing tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.

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