The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of BTU International Inc. (“BTU” or the “Company”) (Nasdaq: BTUI) relating to the proposed buyout of the Company by Amtech Systems Inc. (“Amtech”). On October 22, 2014, BTU and Amtech announced that they have entered into a definitive merger agreement under which Amtech will acquire all of the outstanding shares of BTU in an all-stock transaction. Under the terms of the transaction, BTU shareholders are anticipated to receive 0.3291 shares of Amtech (worth approximately $3.33 per share) in exchange for each share of BTU common stock they own. The transaction is expected to close in the first quarter of 2015, though BTU shareholders will most likely be asked to vote on the transaction well before that time. The firm’s investigation seeks to determine, among other things, whether BTU’s Board of Directors failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. In particular, based on Amtech’s closing price as of October 21, 2014, BTU shareholders are only expected to receive 0.3291 shares of Amtech, representing only a 4% premium. When considering the Company just recently traded at $3.45 per share on October 3, 2014, BTU shareholders will be receiving no premium for their shares. Additionally, following the merger, BTU shareholders are expected to be substantially diluted, owning only 23.9% of the combined company. If you currently own common stock of BTU and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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