Abu Dhabi has decided to buy Singapore’s Chartered Semiconductor Manufacturing, a state-controlled technology company, for $1.8 billion. In purchasing the company, Abu Dhabi hopes to create a competitor to United Microelectronic of Taiwan in a bid to become the most profitable maker of customized chips.
 
Advanced Technology Investment Company, an investment venture owned by Abu Dhabi, will facilitate the purchase of Chartered Semiconductor Manufacturing. As part of the agreement, Abu Dhabi will pay $1.86 per share, or two Singapore cents higher than the company closed on Sept. 4, in cash, this according to a statement that the buyer released on Monday.
 
Abu …read more

Image: FlickrAlthough Toyota once operated the New United Motor Manufacturing Inc. auto-assembly plant as part of a joint venture with General Motors, GM’s bankruptcy forced it to pull out of the plant. This has left Toyota with the difficult decision regarding whether or not it should close the plant, especially after its CEO promised that it would not close any of its North America plants.
 
However, Toyota has announced that it will make the decision “quite soon,” depending on whether or not the plant will receive aid from California lawmakers, as well as on an analysis of the plant’s financial viability. …read more