April 24, 2019
Weil is advising GLOBALFOUNDRIES Inc., a worldwide provider of semiconductor manufacturing services, in its $430 million sale of a 300mm fab located in East Fishkill, New York to ON Semiconductor Corporation. The transaction allows ON Semiconductor to increase its 300mm production at the East Fishkill fab over several years, and allows for GLOBALFOUNDRIES to transition its numerous technologies to the company’s three other at-scale 300mm sites. The transaction is subject to customary closing conditions and regulatory approvals.
The Weil team advising GLOBALFOUNDRIES is led by Mergers & Acquisitions partner Jackie Cohen and includes Mergers & Acquisitions counsel Dawn Kim and Mergers & Acquisitions associates Katie Simmonds, Shane Safer and Michael Zavagno (Not Yet Admitted in New York); Technology & IP Transactions partner Karen Ballack; Tax partner Kimberly Blanchard; Head of Executive Compensation & Benefits Paul Wessel; Environmental Head Annemargaret Connolly; Executive Compensation & Benefits counsel Steven Margolis; Environmental counsel Thomas Goslin; Antitrust/Competition counsel Michael Naughton; Real Estate attorney Leslie Smith; Technology & IP Transactions associates Edric Itchon and Alexa Clinton; Tax associates Alex Farr and Mary Sommers; and Executive Compensation & Benefits associate Maliha Ikram.