ASMI wants extension for takeover talks

Chip machinery maker ASMI has asked the courts to give it a three month extension to complete talks on a takeover with US firm Applied Materials.

The company court had given ASMI until Thursday to end a dispute with activist shareholders who want to split the company up.
Hedge funds Hermes and Fursa had been pressuring ASMI to sell part of its operation (the front-end chip making division) to Applied Materials and a partner for some €550m.

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