After rejecting an unsolicited $5.20 per share takeover offer from Sumitomo Heavy Industries (and getting sued by shareholders for failing to negotiate with the Japanese firm), semiconductor manufacturer Axcelis (NASDAQ: [[ticker:ACLS]]) of Beverly, MA, has a new offer to consider. Sumitomo announced yesterday that it has upped its bid to $6.00 per share, valuing Axcelis at $630 million. In a letter to Axcelis’ board, Sumitomo said it would not increase the offer again.
Author: Rebecca Zacks
Rebecca is Xconomy's co-founder. She was previously the managing editor of Physician's First Watch, a daily e-newsletter from the publishers of New England Journal of Medicine. Before helping launch First Watch, she spent a decade covering innovation for Technology Review, Scientific American, and Discover Magazine's TV show. In 2005-2006 she was a Knight Science Journalism Fellow at MIT. Rebecca holds a bachelor's degree in biology from Brown University and a master's in science journalism from Boston University.
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