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Chairman says TSMC open to buying new businesses

Two co-CEOs elected to the board, move signals succession planning

TSMC Chairman Morris Chang says his company is open to acquiring new businesses. (Photo by Cheng Ting-fang)

HSINCHU, Taiwan -- Morris Chang, chairman of Taiwan Semiconductor Manufacturing Co., the world's largest contract manufacturer, on Thursday said the chipmaker is open to acquiring new businesses.

Chang's comments at the company's annual general meeting came amid a wave of consolidation in the global semiconductor industry to boost growth and cut costs as demand for smartphones and other electronics softens.

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