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Asyst in second hostile takeover move

26 June 2008 | By Síle Mc Mahon | News > Fab Management

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AsystSoon 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.

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