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Chi Mei, Innolux to merge via share swap - source

Fri Nov 13, 2009 8:00pm EST

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TAIPEI, Nov 14 (Reuters) - Chi Mei (3009.TW), Taiwan's No.2 LCD maker, and Innolux (3481.TW) have decided to merge through a share swap to further boost industry competitiveness, a source with knowledge of the matter told Reuters on Saturday.

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Under the tie-up, both companies have agreed that 2.05 Chi Mei shares will be exchanged for one Innolux share, said the source, who declined to be unidentified as the source was not authorised to speak publicly about the matter.

The new company will be named as Chimei Innolux Corp, the source said. (US$1=T$32.3) (Reporting by Baker Li, Editing by Lee Chyen Yee)

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