LAWFUEL – US Law & US Law Jobs – Davis Polk & Wardwell advised AU Optronics Corp. and Quanta Display Inc. in connection with the merger of AUO and Quanta Display. The transaction, which was completed on October 1, 2006, was effected under the laws of the Republic of China, pursuant to which Quanta Display was merged with and into AUO, with AUO as the surviving entity. Based in Taiwan, the combined entity is the world’s second- and third-largest producer of LCD monitor TFT-LCD panels and LCD TV TFT-LCD panels, respectively, in terms of global market share. AUO’s ADRs are listed on the New York Stock Exchange.
Under the terms of the transaction, Quanta Display shareholders received one AUO common share for every 3.5 common shares of Quanta Display that they own. The AUO common shares issued to shareholders of Quanta Display are valued at approximately $2 billion.
The Davis Polk corporate team includes partner Show-Mao Chen and associates James C. Lin and Jason H. Pan of the Hong Kong office and Jennifer Zhou Cheng of the New York office.
