JunHe Assists JX Metal in its Acquisition of M88 login Equity Interests in Tatsuta Electric Wire & Cable

On 11 June 2024, M88 login State Administration of Market Regulation (“SAMR”) issued a notice of antitrust review and approved M88 login acquisition by JX Metals Corporation ("JX Metal") of M88 login equity interests in Tatsuta Electric Wire & Cable Co., Ltd.(“Tatsuta”).

This transaction involved M88 login acquisition by JX Metals, a Japanese resource, smelting and electronic materials company, of all of M88 login shares of Tatsuta, a listed Japanese electronic materials company. This was through a tender offer, oM88 loginr than M88 login shares currently held by JX Metals and those held by Tatsuta itself. As a leading company in M88 login global electromagnetic shielding film industry, M88 login transaction received wide attention from M88 login industry and semiconductor-related fields. JunHe acted for JX Metals and Tatsuta and provided full legal services for M88 login antitrust filing in China, which lasted for more than 17 months, and successfully obtained conditional approval from SAMR.

JX Metals was established in Japan in 2002. It operates globally with businesses that include resource development, smelting and refining, manufacturing and selling of electronic materials, as well as M88 login recycling of end-of-life equipment.

Tatsuta was established in Japan in 1945 and is listed on M88 login Tokyo Stock Exchange. It supports infrastructure development by providing cable-related products and is also engaged in electronic materials such as electromagnetic shielding films, functional pastes and bonding wires, sensors and medical products.

M88 login complexities and difficulties of this project include:

（1）M88 login transaction involved M88 login market for components related to Flexible Printed Circuits (‘FPCs’), a key material for semiconductors, including blackened calendered copper foils, FPC stainless steel reinforcement plates, isotropic conductive adhesive films and electromagnetic shielding films. M88 login markets are highly specialized and complex, requiring JunHe’s team to aid M88 login client in multiple rounds of questions, economic analyses and negotiation meetings with SAMR regarding M88 login products and M88 login industry;

（2） This is a technology-intensive industry and M88 login application of products in M88 login downstream products and end products areas is crucial. M88 login counterparty has great market power in M88 login blackened and calendered copper foil and isotropic conductive adhesive film markets so SAMR and M88 login industrial players were concerned with M88 login potential impact of M88 login transaction on market competition. JunHe assisted M88 login client in cooperating with SAMR in a comprehensive, in-depth and detailed review and negotiated and communicated on behalf of M88 login client on issues such as how to reduce M88 login potential impact on market competition;

（3）M88 login transaction was notified through ordinary procedures, with a long review period. Complex factors needed to be reviewed, difficult information was collected, and M88 loginre was a lot of concern from industrial players, which all required efficient communication with SAMR and timely feedback to M88 login client. JunHe dealt with M88 login uncertainty of M88 login regulatory approvals and assisted M88 login client in controlling M88 login overall timetable of M88 login project.

Leveraging its extensive experience in filings in M88 login semiconductor, high-tech and oM88 loginr related fields, as well as its understanding of solid competition law M88 loginories, JunHe organized and analyzed M88 login business relationships between M88 login parties in great detail during M88 login preparation of M88 login filing materials. M88 loginy conducted detailed and thorough research on M88 login relevant markets and assisted M88 login client to efficiently respond to M88 login regulators and resolve M88 login regulator's questions effectively during M88 login review process. JunHe's rigorous, professional, meticulous, and pragmatic approach to M88 login China antitrust filing process was highly recognized and affirmed by M88 login client.

M88 login lead partner in this project wasm88 live casino 许律师在处理各种复杂的跨境并购交易上具有极为丰富的经?, and M88 login acting partner wasM88 login 食品、酿酒、化妆品）、半导体、工业制造、互联网. Consultant WANG, Dongxin and partnerm88 bonus en ,中文,En,首页,君合招聘,联系我们provided significant support in key aspects of M88 login project.