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

To: allatwwk who wrote (23188)	6/23/2008 3:23:38 PM
From: niek	Respond to of 25522

ASMI shareholders want EGM pushed to Oct. 15 Mon Jun 23, 2008 1:55pm EDT AMSTERDAM, June 23 (Reuters) - Activist shareholders in Dutch semiconductor equipment maker ASM International said on Monday they wanted a shareholders' meeting to be delayed to give management time to talk to potential buyers. A Dutch court had given the struggling company and its investors, who are trying to sack Chief Executive Chuck del Prado, until Monday to resolve their differences or face a ruling on ASMI's poison pill. In the meantime, U.S. rival Applied Materials (AMAT.O: Quote, Profile, Research, Stock Buzz) and private equity firm Francisco Partners are seeking to buy ASMI's key units for up to $800 million. ASMI rejected this approach last week, saying the offers were too low. The meeting, scheduled for July 15, was to allow shareholders to vote on Del Prado's position. Hermes and Fursa now have asked for the meeting to be postponed to Oct. 15. "Hermes and Fursa retain the right to seek a ruling from the enterprise chamber if and when needed with regard to the preference shares, or to seek any other immediate provision needed to protect shareholder's interests," the two said in a statement. Hermes and Fursa said they would, together with another shareholder, Centaurus, take part in a monitoring panel that would work with ASMI adviser Lehman Brothers to seek the best possible offer from Applied Materials and Francisco Partners. ASMI (ASMI.O: Quote, Profile, Research, Stock Buzz) shares have gained about 24 percent since Applied Materials first approached the company in early June. The stock ended 4 percent down at 19.98 euros on Monday and were 3.6 percent lower by 1749 GMT on Nasdaq. The Dutch company has been under pressure from activist shareholders for more than two years, sparked by years of losses at ASMI's "front end" unit that makes machines for the early stages of chip manufacturing.