ASMI under shareholder fire

Chip industry supplier ASM International rose sharply on the Amsterdam stock exchange on Tuesday morning following the news that it had received a critical letter from activist shareholder Fursa.

CFO Naud van der Ven confirmed existence of the letter but declined to go into details. ASMI makes equipment for the processing, assembly and packaging of semiconductors.
Fursa has some 10% of ASMI and has been pressing for change for some time.
According to US media reports, Fursa wants to hive off the loss-making process systems division and has warned ASMI that it will mount a takeover bid to force the issue.

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