Oct. 22, 2014, 8:26 AM
- Amtech (NASDAQ:ASYS) agrees to acquire BTU International (NASDAQ: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.
Amtech Systems, Inc. supplies thermal processing system, including related automation, parts and services. It manufactures polishing templates, steel carriers and double-sided polishing and lapping machines to fabricators of LED's, optics, quartz, ceramics and metal parts. The company operates... More
Industry: Semiconductor Equipment & Materials
Country: United States
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