Asyst Technologies Inc received a buyout proposal from its former chief executive and private equity firm Gores Group LLC for a maximum of $298.2 million, sending the chip equipment maker’s shares up more than 12 percent.
The offer of $5 to $6 a share represents a premium of 51 percent to Asyst’s Friday close, considering the mid point of the offer. Mihir Parikh, who was the former CEO of the company and now heads Aquest Systems, and Gores Group said they might also consider paying a portion of the purchase price in stock.
As of Feb. 1, Asyst had 49.7 million shares outstanding.
Earlier, Gores’ expression of interest to buy Asyst was rejected by the Fremont, California-based company, following which the private equity firm partnered with Parikh.
