Merger document with Fastech is available on Edgar...
1M shares of Brooks to acquire the company.
Reasons for merger are:
Brooks strives to invest in technologies that are synergistic with its core business areas to compete in its intensely competitive industries. Following the Merger, Brooks believes the combined company will be in an improved competitive position to effectively meet the information technology and information challenges and customer demands of both semiconductor and flat panel display fabrication equipment OEMs and end-users. The Brooks Board believes that the Merger will be beneficial to Brooks for the following reasons: (i) the products of Brooks and FASTech are complementary, (ii) the combined company has the potential to offer customers a more comprehensive factory automation solution than either could independently, (iii) the Merger would be positively received by customers of each of the companies and the combined company would benefit by an enhanced ability to compete in the factory automation software market (iv) FASTech's MES and cell control products should position Brooks to offer its customers a more complete solution with the development of integrated software links between MES factory software and tool automation software; (v) FASTech's research and development, management and technical teams have significant expertise in the development of a wide range of manufacturing automation and control applications which is expected to enhance Brooks' effort to develop new tool and factory automation products and (vi) FASTech's distribution organization may enhance Brooks' ability to market existing products and services to end-user semiconductor companies worldwide.
The Brooks Board also considered a number of potentially negative factors, including those discussed under "Risk Factors." There can be no assurance that the benefits Brooks expects to achieve following the consummation of the Merger will be achieved or will outweigh the costs and other negative factors associated with the Merger. Brooks did not assign any relative or specific weights to any of the factors it considered in connection with the Merger.
FASTECH'S REASONS FOR THE MERGER
The following factors were considered by the Board of Directors of FASTech in recommending to the stockholders the approval of the Plan of Merger, the Merger Agreement, and the transactions contemplated thereby, including the Merger and the other proposals set forth herein:
. The Merger may permit FASTech to leverage Brooks' position with semiconductor OEM customers to provide improved integration between FASTech solutions and equipment control systems.
. Brooks' liquidity and capital resources will enhance FASTech's financial position.
. FASTech may enable Brooks to accelerate the expansion from tool automation into factory automation solutions and extend FASTech's existing solution portfolio.
35 <PAGE> . The consideration paid to FASTech stockholders in the Merger will be shares of Brooks Common Stock, which are securities that are listed on the Nasdaq National Market and are more readily marketable than shares of FASTech Capital Stock.
In the course of its deliberations regarding the Merger, the FASTech Board of Directors reviewed with FASTech management and FASTech's legal advisors a number of additional factors which the FASTech Board deemed relevant to the Merger, including, but not limited to: (i) the strategic importance to FASTech of the proposed Merger; (ii) the consideration to be received by FASTech stockholders in the Merger; (iii) information concerning FASTech's and Brook's respective businesses, prospects, strategic business plans, financial performance and condition, results of operations, technology positions, management and competitive positions; (iv) FASTech management's view as to the financial condition, results of operations and business of FASTech before and after giving effect to the Merger; (v) FASTech management's view as to the prospects of FASTech's continuing as an independent company; (vi) FASTech management's view as to FASTech's ability to gain access to the necessary capital to meet its strategic business goals in both the near-term and long-term and the relative costs associated with obtaining such capital; and (vii) current and historical market prices, volatility and trading information with respect to Brooks Common Stock. |