UPDATE 2-ASMI gets offer worth up to $800 mln for key units

(Adds analyst comment, background)

By Emma Thomasson

AMSTERDAM, June 17 (Reuters) - Applied Materials Inc (AMAT.O: Quote, Profile, Research) and private equity firm Francisco Partners have made an unsolicited bid for the main business of Dutch chip equipment maker ASM International (ASMI.AS: Quote, Profile, Research) worth up to $800 million.

ASMI said in a statement on Tuesday that it had received a combined indicative offer for its struggling "front end" businesses that make machines to deposit thin films of materials on silicon wafers.

Applied Materials said earlier this month it had made a non-binding proposal to ASMI to buy parts of the front end business -- its Atomic Layer Deposition (ALD) and Plasma Enhanced Chemical Vapor Deposition (PECVD) units -- for $400 million to $500 million.

ASMI said Applied Materials had confirmed its valuation for those units for the joint offer, while Francisco Partners had indicated an initial value for the remaining front-end activities in the range of $225 million to $300 million.

The sale of the front-end business, focused on the $9.5 billion deposition segment of the semiconductor equipment market, would leave ASMI with just cash and its 53 percent stake in ASM Pacific Technology Ltd (0522.HK: Quote, Profile, Research), which makes machines for the back-end segment of semiconductor assembly and testing.

ASMI, which is under pressure from activist investors who are trying to oust Chief Executive Chuck del Prado due to the weak performance of the front-end business, said its boards would discuss the offer and make an announcement in due course.

Last week, the company said it would not sell the ALD and PECVD parts of the business to Applied Materials, describing them as vital to the company's strategy and growth goals.