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Deal with ASM possible in weeks, says Applied Materials

16 June 2008 | By Mark Osborne | News > Wafer Processing

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ASMAlthough ASM International’s Supervisory Board has rejected the offer by Applied Materials to acquire its ALD and CVD businesses for between $400 million and $500 million in cash, ASM left the door open to the world’s largest semiconductor equipment supplier to pursue alternative strategies.

In response to ASM’s rejection of the initial offer, Applied Materials has said that it wanted talks to start early this week and based on normal procedures believes that a deal could be struck for the purchase of the units in a matter pf of weeks.

Applied noted in a statement that: ‘the transaction would provide value well in excess of the negative value which has been attributed to ASMI’s entire front end business for significant periods during the past three years and infuse a significant amount of cash into ASMI that could be used for the benefit of ASMI’s stakeholders.’

ASM reiterated that the ALD and CVD units were an integral part of its plans to return the ‘front-end’ division to profitability and give the required value to shareholders.

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