This implies that MTSN isn't paying Siemens any penalty and that Siemens has waived its right to terminate the merger unless such a penalty be paid for a stock price under $20.
Do you read it differently?
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Mattson Technology, STEAG and CFM Merger Set for Closing; Mattson
Announces a New CFO, Ludger Viefhues
FREMONT, Calif., Dec 18, 2000 (BUSINESS WIRE) -- Mattson Technology, Inc.
(Nasdaq: MTSN), a leading supplier of advanced process equipment used to
manufacture semiconductors, today announced that Mattson, STEAG and CFM
Technologies have acknowledged satisfaction of key closing conditions and waived
all independent rights to terminate their agreements. Completion of the mergers
of Mattson Technology with CFM and STEAG's semiconductor equipment division now
only requires certain previously agreed upon closing deliverables in order to
take place, as planned, in early January.
"With these actions by the parties, this deal is locked on course for final
closing, and Mattson Technology can now fully enjoy the benefits of the "Power
of Three" merger announced on June 28 of this year. We look forward to a smooth
conclusion of the merger and integration process," noted Brad Mattson, Mattson
Technology's CEO. "Our customers will now begin to benefit from our multiproduct
offerings and critical mass. They will now have a comprehensive choice from our
strong 300mm-tool selection, and the customer support of a company solidly
established in Asia, Europe and the United States. We become a provider of
choice to meet the demands of the rapidly expanding Asian foundry market."
Mattson Technology, with the increased financial stability of a $500 million
company, after the closing will be ranked among the top 15 semiconductor
equipment manufacturers in the world. The company, already the leader in Dry
Strip, will become the second largest manufacturer of Rapid Thermal Processing
(RTP) systems in the world, and with CFM Technologies and STEAG's Wet Products
Group working together, Mattson will become a leader in that market also.
In line with today's announcement, Mattson Technology also announced the
appointment of Ludger H. Viefhues, 58, to the position of chief financial
officer (CFO). Viefhues, a seasoned veteran, was previously CFO of STEAG RTP
Systems GmbH. He will immediately take over responsibility for the strategic
development and management of all Mattson Technology financial, investor
relations, and merger and acquisition programs.
Mattson CEO Brad Mattson is very excited about Viefhues joining Mattson, stating
"Mr. Viefhues brings to Mattson not only the experience of financial management
of several multi-billion dollar companies, but also very important international
experience having been the CFO of large global companies in both the U.S. and
Germany." Prior to STEAG, Viefhues most recently held the position of CEO at
MEMC (Monsanto Electronic Materials Co. in St. Louis, Mo.), a leader in the SEMI
industry. Prior to being appointed CEO at MEMC, Viefhues was the company's CFO.
Before MEMC, Viefhues held the post of CFO at Huels AG (Germany), a highly
respected German company with sales in excess of $10B. He earned his MBA in
finance from University of Muenster (Germany).
Viefhues succeeds Brian McDonald, who has left the company to take a position
outside of the capital equipment industry. Viefhues will begin his
responsibilities at Mattson Technology immediately. |
