ASMPT Ltd., a semiconductor and electronics equipment maker, is attracting takeover interest from private equity firms, people with knowledge of the matter said.
Alternative investment firm PAG is among those that have expressed interest in taking the Hong Kong-listed company private, said the people, who asked not to be identified discussing confidential information. PAG has sounded out several lenders about financing the potential deal, the people said.
Deliberations are at an early stage and there’s no certainty that they will result in a transaction, the people said. A representative for PAG declined to comment, while a representative for ASMPT didn’t immediately respond to requests for comment.
Shares of ASMPT erased losses and rose as much as 5.2% after the Bloomberg News report. The stock has climbed about 32% this year, giving it a market value of about HK$30 billion (US$3.9 billion or $5.18 billion).
Founded in 1975, Singapore-headquartered ASMPT has more than 12,000 employees and operates in over 30 countries, according to its website. ASM International NV, a Dutch semiconductor-equipment maker which has about a 25% stake in ASMPT, was pushed by activist investors Elliott Investment Management and Eminence Capital to sell the shares about five years ago, Bloomberg News reported at the time. China’s TCL Corp. had weighed a bid for the stake, people familiar with the matter said in 2018.
PAG, jointly founded by Weijian Shan, Chris Gradel and Jon-Paul Toppino, manages US$50 billion in assets for about 300 institutional fund investors worldwide as of end-June last year, the firm’s website shows.
