financetom
Technology
financetom
/
Technology
/
Chip equipment maker ASMPT ends takeover talks with potential suitor
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chip equipment maker ASMPT ends takeover talks with potential suitor
Nov 11, 2024 1:39 AM

Nov 11 (Reuters) - Hong Kong-listed ASMPT ( ASMVF ) on

Monday said it has ended takeover talks with a potential suitor,

curbing media speculation around the semiconductor and

electronics equipment maker's possible privatisation.

Last month, the company said it had received a takeover bid,

but did not provide financial details or any information about

the potential buyer.

Global investment firm KKR & Co ( KKR ) was said to have

been mulling a buyout bid for ASMPT ( ASMVF ), according to a Bloomberg

News report on Oct. 2.

ASMPT's ( ASMVF ) shares rose more than 11% to a three-month high on

the day Bloomberg News first reported the news, closing about 3%

higher. However, they have since declined more than 20%.

The firm's shares closed 4% lower at HK$79.9 on Monday,

their lowest level since late September.

Netherlands-based semiconductor equipment maker ASM

International NV, which owns around 25% stake in the

company, has in the recent past been asked by activist investors

to sell its holding.

Media reports had first emerged in March 2023 that Hong

Kong-headquartered alternative investment firm PAG was among the

companies that had expressed interest to take ASMPT ( ASMVF ) private.

ASMPT ( ASMVF ) is a major global provider of technology and equipment

used in the manufacture of chips. Its market capitalisation as

of Friday's closing stands at HK$34.52 billion ($4.44 billion),

according to LSEG data.

($1 = 7.7734 Hong Kong dollars)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Varun H

K)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved