AIXG Aixtron SE ADS, Each Representing One Ordinary Share

FRANKFURT—Chinese entrepreneur Zhendong Liu has made a takeover offer for German chip maker Aixtron SE, the latest sign of China's growing appetite for European technology firms.

German semiconductor and machinery company Aixtron SE said Monday it has agreed to a takeover by the German unit of China's Fujian Grand Chip Investment Fund LP, which is 51%-owned by Zhendong Liu and 49%-owned by the Xiamen Bohao Investment Ltd. The German unit of the company is Grand Chip Investment GmbH.

Shareholders would be offered €6.00 ($6.73) per Aixtron share, valuing the company at about €670 million, Aixtron said.

The offer is a 50.7% premium on the three-month weighted average share price, and both the executive and supervisory boards support the offer, it added. The voluntary public offer is for all of Aixtron's outstanding shares, including those represented by American depository shares.

The offer depends on a minimum acceptance rate of 60%, as well as regulatory approvals.

"Aixtron and FGC view the transaction as an opportunity to grow and to expand the company and its workforce - the transaction isn't directed toward cost or staff reductions," the company said.

Write to Monica Houston-Waesch at nikki.houston@wsj.com

(END) Dow Jones Newswires

May 23, 2016 04:45 ET (08:45 GMT)

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