Chip equipment maker ASMPT ends takeover talks with potential suitor

ASMPT

11/11/2024 09:22

Nov 11 (Reuters) - Hong Kong-listed ASMPT  0522.HK  on
Monday said it has ended takeover talks with a potential suitor,
curbing media speculation around the semiconductor and
electronics equipment maker's possible privatisation. 
    Last month, the company said it had received a takeover bid,
but did not provide financial details or any information about
the potential buyer.
    Global investment firm KKR & Co  KKR.N  was said to have
been mulling a buyout bid for ASMPT, according to a Bloomberg
News report on Oct. 2.
    ASMPT's shares rose more than 11% to a three-month high on
the day Bloomberg News first reported the news, closing about 3%
higher. However, they have since declined more than 20%.
    The firm's shares closed 4% lower at HK$79.9 on Monday,
their lowest level since late September.
    Netherlands-based semiconductor equipment maker ASM
International NV  ASMI.AS , which owns around 25% stake in the
company, has in the recent past been asked by activist investors
to sell its holding.
    Media reports had first emerged in March 2023 that Hong
Kong-headquartered alternative investment firm PAG was among the
companies that had expressed interest to take ASMPT private. 
    ASMPT is a major global provider of technology and equipment
used in the manufacture of chips. Its market capitalisation as
of Friday's closing stands at HK$34.52 billion ($4.44 billion),
according to LSEG data.
     
     
    ($1 = 7.7734 Hong Kong dollars)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Varun H
K)
((Rishav.Chatterjee@thomsonreuters.com;))