Aug. 27, 2012
/PRNewswire/ -- Tokyo Electron Limited ("Tokyo Electron"; Headquarters:
; President and CEO:
) (TSE: 8035) is commencing today, through its wholly-owned subsidiary RB Merger Corp., a cash tender offer to purchase all outstanding shares of common stock of FSI International, Inc. ("FSI"; Headquarters:
, USA; Chairman and CEO:
) (NASDAQ: FSII). Tokyo Electron previously announced on
Monday, August 13, 2012
its intent to acquire FSI.
The tender offer is being made pursuant to an Offer to Purchase, dated
, 2012. Upon the successful closing of the tender offer, shareholders of FSI will receive
in cash for each share of FSI common stock validly tendered and not validly withdrawn in the offer, without interest and less any applicable withholding taxes. Following the purchase of shares in the tender offer, FSI will become a subsidiary of Tokyo Electron.
Tokyo Electron will file today with the U.S. Securities and Exchange Commission (SEC) a tender offer statement on Schedule TO which includes the Offer to Purchase and provides the terms of the tender offer. Additionally, FSI will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of the FSI board of directors that FSI shareholders accept the tender offer and tender their shares. As previously announced, the FSI board of directors has determined that the merger agreement entered into by Tokyo Electron, RB Merger Corp. and FSI on
August 13, 2012
and its related transactions including the tender offer, are advisable, fair to and in the best interests of FSI and its stockholders.
The tender offer will expire at 12:00 Midnight (
New York City
Monday, September 24, 2012
, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. The closing of the tender offer is subject to customary terms and conditions, including there being validly tendered a number of shares that constitutes at least a majority of FSI's outstanding shares of common stock determined on a fully diluted basis, the expiration or the termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and other conditions described in the Offer to Purchase.
& Co., Inc. is acting as information agent for Tokyo Electron. Goldman Sachs is serving as exclusive financial adviser to Tokyo Electron in connection with the acquisition and as the dealer manager, and
is its legal adviser. Barclays is serving as exclusive financial adviser to FSI in connection with the acquisition, and Faegre Baker Daniels LLP is its legal adviser.
About Tokyo Electron
Tokyo Electron Limited, established in 1963, is a leading supplier of innovative semiconductor and FPD production equipment worldwide. Product lines include coater/developers, oxidation/diffusion furnaces, dry etchers, CVD systems, surface preparation systems, gas cluster ion beam technologies, and test systems. To support this diverse product base, Tokyo Electron has strategically located research & development, manufacturing, sales, and service locations all over the world. Tokyo Electron is a publicly held company listed on the Tokyo Stock Exchange. More information about Tokyo Electron is available at
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