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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: niek who wrote (23172)	6/20/2008 12:00:59 PM
From: niek	Read Replies (1) \| Respond to of 25522

Press Release Source: ASM International NV ASMI Rejects the Unsolicited Combined Indicative Offer for its Front-End Businesses from Applied Materials and Francisco Partners BILTHOVEN, The Netherlands - June 20, 2008 - On June 17 ASMI received a combined, unsolicited indicative offer from Applied Materials and Francisco Partners for all of its Front-End activities. The offer consists of an offer from Applied Materials for its Atomic Layer Deposition (ALD) and Plasma Enhanced Chemical Vapor Deposition (PECVD) activities with an initial value indication in the range of USD 400 million to USD 500 million and an offer from Francisco Partners for the remainder of its Front-End activities, including its Epitaxy and Vertical Furnaces activities, with an initial value indication in the range of USD 225 million to USD 300 million. After due and careful consideration the Management and Supervisory Boards of ASMI believe that the unsolicited offer for part of our Company significantly undervalues the Front-End business and fails to reflect its future prospects. The wide offer value range, the complex structure of the combined offer and the unclear terms of the partnership furthermore represent significant uncertainty and execution risks for ASMI's shareholders, employees and other stakeholders. As such the Management and Supervisory Boards do not believe the offer is in the best interest of its shareholders, employees and other stakeholders. ASMI therefore rejects the unsolicited offer.