News Article
Sumitomo Heavy Industries proposes to acquire Axcelis Technologies
In a bid to buy Acelis Technologies, Sumitomo Heavy Industries offered $532 million and is still willing to extend the sum as it may not be the final offer.
Axcelis Technologies, a manufacturer of ion implanters, confirmed that it has received a series of unsolicited letters, from a Japanese company, Sumitomo Heavy Industries (SHI) with proposals to acquire Axcelis. In reply, Axcelis informed SHI that this proposal will be discussed and once the discussion is complete, its board would inform SHI about the result. Meanwhile, SHI has made this letter public as it has decided not to wait for the answer. SHI's offer may not be the final one, leaving the potential option for a higher offer. The offer was made at $5.20 per share in cash.
"We don't know yet, but it was not necessarily our final offer," said Sumitomo Heavy spokesman Nobuhiro Kano.
Axcelis and SHI operate a joint venture called SEN. This operation, based in Japan, would be more effective, according to the believes of SHI. According to the Gartner Semiconductor Equipment Database for 2006, Axcelis' share ofthe total ion implantation equipment market, excluding our joint venture SEN Corporation, has fallen from approximately 36% in 1997 to less than 15% in 2006, and Axcelis' share of the high current market has fallen from approximately 34% in 1997 to less than 9% in 2006.
"We don't know yet, but it was not necessarily our final offer," said Sumitomo Heavy spokesman Nobuhiro Kano.
Axcelis and SHI operate a joint venture called SEN. This operation, based in Japan, would be more effective, according to the believes of SHI. According to the Gartner Semiconductor Equipment Database for 2006, Axcelis' share ofthe total ion implantation equipment market, excluding our joint venture SEN Corporation, has fallen from approximately 36% in 1997 to less than 15% in 2006, and Axcelis' share of the high current market has fallen from approximately 34% in 1997 to less than 9% in 2006.
