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Asyst in second hostile takeover move
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Soon after the failed attempt by rival AMHS start-up firm Aquest
Systems and The Gores Group in their bid to take over Asyst
Technologies, the company has said that it has received notice from
Riley Investment Partners Master Fund L.P., of its intention to
nominate six directors with the goal of selling the company if
successful at Asyst’s annual shareholders meeting.
The hedge fund, including related parties, is said to own 2.6 percent of Asyst's outstanding shares. Their plan is to take control and sell the company via an auction process.