USD 300 M DEAL - Mattson Technology, Inc. Enters Into a Definitive Agreement to Be Acquired by the Beijing E-Town Dragon Semiconductor Industry
Mattson Technology, Inc. Enters Into a Definitive Agreement to Be Acquired by the Beijing E-Town Dragon Semiconductor Industry
Mattson Technology, Inc. Enters Into a Definitive Agreement to Be Acquired by the Beijing E-Town Dragon Semiconductor Industry
Investment Center for $3.80 per Share in Cash
FREMONT, CA and BEIJING, CHINA -- (Marketwired) -- 12/01/15 --
Mattson Technology, Inc. (NASDAQ: MTSN), a global semiconductor wafer processing equipment provider, and Beijing E-Town Dragon
Semiconductor Industry Investment Center (Limited Partnership)
("E-Town Dragon"), today jointly announced that they have entered
into a definitive merger agreement under which E-Town Dragon will acquire all of the outstanding shares of Mattson for $3.80 per share
in cash. The transaction price represents a 55 percent premium to the 30-trading day average closing price for the period ending December
1, 2015, a 23 percent premium to Mattson's closing stock price on December 1, 2015, and values Mattson's equity at approximately $300 million on a fully diluted basis.
Commenting on the proposed acquisition, Fusen Chen, Mattson's
President and Chief Executive Officer, said, "In E-Town Dragon, we
have found a partner who brings to Mattson unique investment
experience with a rich, global network and a commitment to grow
Mattson into one of the industry's preeminent semiconductor equipment companies. We are pleased to have entered into this agreement with E-Town Dragon, which we believe represents significant value for our stockholders and will facilitate continued innovation for our customers."
Xiaobo Wang, General Manager of Beijing E-Town Capital, added, "The acquisition of Mattson is representative of E-town's continued commitment to investing in the semiconductor and capital equipment industries. We plan to build upon Mattson's successes and we are excited to provide the resources needed to expand the company going forward."
The transaction is subject to approval by Mattson's stockholders, as well as antitrust and other regulatory approvals. The Mattson Board
of Directors has unanimously approved the merger agreement and recommends that Mattson stockholders vote to approve the merger agreement. Details regarding the record date, and the date, time and place of the special meeting of Mattson stockholders to vote on the transaction will be announced at a later date. The transaction is currently expected
to close in the first calendar quarter of 2016.
Morgan Stanley & Co. LLC is serving as Mattson's financial advisor
and Latham & Watkins is serving as Mattson's outside legal advisor. Cowen and Company, LLC is serving as E-Town Dragon's financial
advisor. Pillsbury Winthrop Shaw Pittman and DeHeng Law Offices are jointly serving as E-Town Dragon's outside legal advisors.
Mattson will file with the U.S. Securities and Exchange Commission
(the "SEC") a Current Report on Form 8-K announcing the transaction, which 8-K will include a copy of the merger agreement. All parties seeking additional details regarding the transaction are urged to review these documents, which are available at the SEC's website http://www.sec.gov.
About Mattson
Mattson designs, manufactures, markets and globally supports semiconductor wafer processing equipment used in the fabrication of integrated circuits. Mattson is a key supplier of processing
equipment used in the global semiconductor industry, and operates primarily in four product sectors: dry strip, etch, conventional
rapid thermal processing and millisecond anneal.
About E-Town Dragon
Private equity fund based in Beijing, E-Town, led by Beijing E-Town Capital, focuses on investments in the semiconductor industry.