(Bloomberg) -- GlobalWafers Co. plans to make a direct appeal to Germany’s Economy Ministry in a last-ditch effort to salvage its troubled $5 billion takeover of wafer maker Siltronic AG.

Senior executives from GlobalWafers are set to meet with government officials at a closed-door meeting on Friday, according to people familiar with the mater. The meeting will likely focus on concessions and commitments GlobalWafers is prepared to offer to ease German security concerns, said the people, who asked not to be identified because the information is private.

The meeting will likely be the Taiwanese firm’s final opportunity to convince Germany to back the deal. The Economy Ministry has until Monday to make a decision. GlobalWafers said on Thursday the deal still had a chance to be approved.

“I can confirm that we have not been able to talk to the German government about the transaction recently,” Chief Executive Officer Doris Hsu said in a statement, without commenting on plans for a Friday meeting.

‘Golden Share’

“We have offered extremely far-reaching safeguards,” she added. “This alone clearly shows that we are not a foreign buyer of key technologies, but – like Taiwan – a strong partner for the European semiconductor industry.”

There are still legal options to address any concerns, the GlobalWafers said, without elaborating. The statement came a day after Bloomberg reported that Germany is likely to allow a Monday deadline lapse without granting approval, a move that could derail the proposed deal.

It’s unclear what GlobalWafers could propose that would sway German authorities to sign off. The company has already offered the government special voting rights via a “golden share” as well as ways to undo the purchase or sell back key assets in Munich-based Siltronic.

The Economy Ministry has been examining the takeover for more than a year, but continues to be skeptical, people familiar with the matter have said. 

A spokesman for the ministry said on Thursday that the review is continuing, declining to comment further. 

Heightened Scrutiny

Global chip takeovers have faced increasing headwinds as governments have begun to treat semiconductor technologies and supply chains as national-security issues. Authorities were put on heightened alert after a prolonged shortage of microelectronics roiled the auto industry and undermined post-Covid economic recoveries.

Nvidia Corp. is preparing to abandon its purchase of British chip company Arm Ltd. from SoftBank Group Corp. after drawing backlash from regulators and making little to no progress in winning approval for the $40 billion deal, Bloomberg reported this week. During the process, Nvidia’s bid faced a national security review in the U.K.

Other deals, however, have managed to win approval. Chinese regulators signed off on Advanced Micro Devices Inc.’s purchase of Xilinx Inc., clearing the way for one of the largest deals in the global semiconductor industry.

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