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4 months ago
BRIEF-Eminence Capital pushes for divestiture of ASM Pacific Technology
April 20, 2017 / 6:25 AM / 4 months ago

BRIEF-Eminence Capital pushes for divestiture of ASM Pacific Technology

April 20 (Reuters) -

* Eminence Capital, which owns 9.6 percent of ASM Int'l, says "we strongly believe that ASMI would be a stronger and more valuable company without ASMPT"

* Eminence capital on ASM - many of fellow shareholders have advocated for divestiture of asmpt for many years

* Eminence capital on ASM - management has never provided a reasonable defense for continuing to hold the financial stake in ASMPT

* Eminence capital believes a multi-year plan to exit the ASMPT stake via multiple block trades creates "most long-term shareholder value"

* Eminence capital says first step should be a block trade of 33 percent of ASMPT stake combined with a special dividend

* Eminence capital, which owns 9.6 percent of ASM Int'l, says "we strongly believe that ASMI would be a stronger and more valuable company without ASMPT" Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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