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Chip equipment maker ASMPT ends takeover talks with potential suitor
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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)

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