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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesATIC—not GlobalFoundries—bought Chartered Semiconductor Manufacturing in a deal announced on September 7, 2009. The cash offer was S$2.68 per ordinary share, valuing Chartered’s equity at about S$2.5 billion and the transaction at about S$5.6 billion including debt and convertible redeemable preference shares. The acquisition took effect on December 18; ten days later, an agreement gave GlobalFoundries exclusive rights to manage Chartered’s wafer-fabrication operations.
What ATIC agreed to pay
ATIC made the offer through its subsidiary, ATIC International Investment Company LLC. The figures below come from the companies’ 2009 transaction announcement. The total-value estimate included debt and convertible redeemable preference shares outstanding as of June 30, 2009.
| Measure | Announced amount | What it means |
|---|---|---|
| Cash offer per ordinary share | S$2.68 | The stated cash consideration for each Chartered ordinary share. |
| Equity value | Approximately S$2.5 billion | The announced value of Chartered’s equity. |
| Total transaction value | Approximately S$5.6 billion | Included debt and convertible redeemable preference shares, measured as of June 30, 2009. |
| Estimated ADS value | US$18.64 | Chartered’s announced estimate before adjustments for exchange rates, depositary fees, taxes and expenses; it was not a guaranteed final amount. |
The equity value and total value describe different things: the former is the value assigned to shareholders’ equity, while the latter also accounts for the specified debt and preference-share obligations. They should not be treated as competing estimates of the same figure.
Why ATIC paired Chartered with GlobalFoundries
The acquisition followed ATIC’s creation of GlobalFoundries with AMD in March 2009. ATIC presented Chartered as a complement to the new company: Chartered brought customer relationships and 8-inch and 12-inch wafer-fabrication capabilities, while GlobalFoundries offered advanced-technology expertise, a different capacity profile and a broader global footprint.
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The rationale was therefore about combining manufacturing capabilities and customer reach, not simply transferring ownership of a listed company to a larger chipmaker. ATIC chairman Waleed Al Mokarrab said the company believed access to ATIC’s long-term capital and related assets could help Chartered advance its skills, capabilities and leadership.
How the acquisition was approved and closed
The transaction used a Singapore scheme of arrangement. It required Chartered shareholder approval, sanction by Singapore’s High Court and completion of other conditions. The key milestones were:
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- September 7, 2009: ATIC and Chartered announced a definitive acquisition agreement.
- November 2009: Chartered shareholders voted in favor of the scheme.
- December 18, 2009: The acquisition became effective after the court order and remaining conditions were completed.
- December 28, 2009: ATIC International, Chartered and GlobalFoundries entered into a Management and Operating Agreement covering Chartered’s wafer-fabrication operations.
These dates mark separate steps: the September announcement was not the legal closing, and the December 28 operating agreement followed the December 18 effective date. Chartered’s ADS program ended, and delistings from Nasdaq and the Singapore Exchange were scheduled for later in December.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Chartered’s Singapore fabs
ATIC acquired Chartered, while GlobalFoundries took the operating role. Under the December 28 agreement, GlobalFoundries received exclusive rights to manage all aspects of Chartered’s wafer-fabrication operations. That management arrangement explains why the transaction is often described as Chartered being folded into GlobalFoundries even though GlobalFoundries was not the direct purchaser.
GlobalFoundries later described the 2010 combination with Chartered as the basis for its Singapore manufacturing hub. Its corporate-responsibility history says it integrated operations with the former Chartered Semiconductor after ATIC acquired the Singapore wafer-manufacturing facilities. The documented outcome is the integration of those operations into GlobalFoundries’ Singapore footprint; the cited transaction and company-history materials do not establish a single authoritative post-merger revenue, market-share or employment figure.
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