Chris Bunge
Hedge fund analyst, long/short equity

ATMI Inc: Restructuring Underway, The Best Is Yet To Come

On December 23, 2013, ATMI (NASDAQ:ATMI) confirmed my prior analysis that they would sell or monetize their fast growing LifeScience division.(see article here)The press release stated: "ATMI has agreed to sell its LifeScience unit to Pall Corp. (NYSE:PLL) in a deal worth $185M, after-tax proceeds will be $165M." The sale is part of ATMI's ongoing exploration of strategic alternatives. The assets of the LifeScience business include two Belgian sites and a shared facility in Minnesota.

In my prior analysis I used a year end 2014 target valuation of 220M for their LifeScience division, which would be worth about $7/sh. From the look of it, this deal was a good one for ATMI, The deal...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details