Tokyo Electron plans FSI International acquisition
An acquisition of FSI International is being planned by Tokyo Electron.
Tokyo Electron Limited has announced its intention to acquire FSI International.
It was revealed in a statement by the firm that Tokyo Electron's wholly-owned subsidiary RB Merger Corp has extended the expiration date of its tender offer for all outstanding shares of common stock of FSI International.
The offer is $6.20 (£3.83) in cash for each share of FSI common stock that is validly tendered and not validly withdrawn, without interest and less any applicable withholding taxes.
It was previously expected to expire on Monday (September 24th), but the deal is now on the table until October 10th.
"RB Merger Corp intends to complete the tender offer by promptly accepting for payment all FSI shares validly tendered and not validly withdrawn in the tender offer," said the statement.
Goldman Sachs is working as the exclusive financial adviser to Tokyo Electron in connection with the acquisition, while Barclays is serving as exclusive financial adviser to FSI.
Tokyo Electron is a leading supplier of innovative semiconductor and FPD production equipment worldwide, with research and development, manufacturing, sales and service locations all over the world.
Posted by David Gleck
Source: Tokyo Electron Limited press release, September 25th