Salem Radio Network News Tuesday, March 21, 2023


Chip equipment maker ASMPT draws takeover interest – Bloomberg News

(Reuters) -Semiconductor and electronics equipment maker ASMPT Ltd is attracting takeover interest from private-equity companies, Bloomberg News reported on Friday, citing people with knowledge of the matter.

Alternative investment firm PAG is among the companies that have expressed interest to take the Hong Kong-listed company private, the report said, adding that “PAG has sounded out several lenders about financing the potential deal”.

ASMPT did not immediately respond to a Reuters request for comment, while PAG declined to comment.

Deliberations are at an early stage, and there’s no certainty they will result in a transaction, the report quoted people who requested anonymity.

Shares of the equipment maker rose as much as 5.2%, while Hong Kong’s Hang Seng benchmark dropped 3.2%.

The market capitalization of ASMPT stood at nearly 30.5 billion Hong Kong dollars ($3.89 billion), as of Friday.

Incorporated in 1975, the Singapore-headquartered ASMPT has its presence in more than 30 countries and about 12,000 employees worldwide, according to data on company website.

($1 = 7.8496 Hong Kong dollars)

(Reporting by Anirudh Saligrama in Bengaluru; Editing by Sherry Jacob-Phillips)


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