ASMI given more time to consider offer

Tuesday 24 June 2008

Activist hedge fund Fursa and asset manager Hermes want to give chip machinery maker ASM International more time to look into an offer from US peer Applied Materials, reports news agency ANP.

They have asked the company court in Amsterdam to delay the shareholders meeting planned for July until October, news agency ANP reports.

Fursa and Hermes were planning to use the meeting to try to force ASMI to change its strategy for the front end division which Applied Materials now wants to buy.

© DutchNews.nl

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