Asetek, the company that invented the closed-loop liquid cooler for CPUs, has received an offer it can’t refuse from CQXA Holdings, a subsidiary of Chinese electronic group Suzhou Chunqi, to fully take over the company.

If successful, CQXA would pay 1.72 Danish Krone (around $0.27) per share to make up a total of 547.4 million Danish Krone ($85 million). When this was announced on November 25, 2025, shares from Asetek were valued at 0.82 Danish Krone, which means this offer represents a 110% increase on the price of shares alone.

Asetek has been in a bit of a weird spot this year as a major watercooling patent expired in May, losing a key advantage it had in regards to liquid cooling.

The day after the buyout announcement was made, Asetek’s share price went up to 1.6 Danish Krone per share, almost doubling the value overnight. In the days following this announcement, share prices have stayed consistent.

Asetek’s full report says, “Based on a thorough assessment, the board of directors of Asetek has concluded that the offer represents an attractive proposal to Asetek’s shareholders and has unanimously decided that it intends to recommend that Asetek shareholders accept the offer when made.”

Three major shareholders, who represent 33.4% of Asetek’s share capital and voting rights, have also agreed to accept the offer and tender shares. The report makes it clear that there is an intent to accept this takeover offer, and CQXA must publish an offer document approved by the Danish Financial Supervisory Authority by December 23.

If CQXA holding has approval and 90% of shares by this point, it will “complete a compulsory acquisition of the remaining Asetek shares and seek a delisting of Asetek’s shares from trading and official listing on Nasdaq Copenhagen A/S.”

According to the Financial Times, CQXA owner Suzhou Chunqi has around 6,000 employees with an estimated revenue of 4.16 billion Chinese Yuan (around $500 million). The buyout report states that Chunqiu sees Asetek’s “industry-leading liquid cooling” and “SimSports initiatives” as “highly complementary to its portfolio.”

If all is right with the takeover, the offer should be fully accepted in the first few months of 2026.