- Amtech (NASDAQ:ASYS) agrees to acquire BTU International (BTUI) in an all-stock transaction, which values BTUI at ~$3.33/share, a 4.2% premium over yesterday's closing price.
- ASYS says BTUI provides it with complementary thermal processing technologies in the semiconductor, electronics and solar sectors, and strengthens its footprint in China and other areas with attractive growth trends.
- Upon completion of the transaction, ASYS and BTUI stockholders will own ~76% and 24%, respectively, of the combined company.
- BTUI +12.5% premarket.