In Taiwan, over 200 employees of Siliconware Precision Industries (SPIL) rallied in front of the Ministry of Labor (MOL) headquarters on September 18, expressing concerns that their jobs might be affected by Advanced Semiconductor Engineering (ASE) taking a major stake in SPIL.

On the same day, ASE announced its takeover of the SPIL common shares and ADRs reached the required minimum.

While having little influence on other investors' decisions, the employees urged the government not to sell its SPIL holdings to ASE. Taiwan's Bureau of Labor Funds holds about 5% of SPIL.

In response, ASE reiterated that it has no plans to be involved in the operation of SPIL and therefore, it is impossible for ASE to affect the interests of SPIL's employees. Purchasing SPIL's share is merely a financial investment for ASE, the company claimed.

SPIL previously noted that the purpose of ASE's tender offer is unclear. In a statement issued on August 28, SPIL indicated "the review committee and the board of directors are not able to understand the real purpose of ASE's public tender offer and is concerned that ASE's actions will not be beneficial to the interests of the company and its shareholders."

After receiving notice of an unsolicited tender offer by ASE to buy a major stake in the company, SPIL formed a committee to review details of the tender offer prospectus and relevant documents.

John Hsuan, a member of the committee, commented recently that ASE is SPIL's major competitor. It is hard to convince SPIL that purchasing a major stake in it is purely a financial investment, Hsuan said.