says it still wants to buy
and, to prove it, the equipment company has snapped up 4.2% of August's outstanding stock on the open market.
KLA-Tencor on late Tuesday repeated its $11.50-a-share cash takeover offer for August, which currently has an agreement to merge with
, as well as another takeover offer from
. All three companies make tools used to manufacture semiconductors.
On Monday, August
entered into a confidentiality agreement with Rudolph to further discuss Rudolph's bid of $2.10 a share in cash, up to $40 million, and 0.4955 a share of Rudolph stock, which values August at $9.40 a share.
August shares closed on Tuesday at $11.99, which makes Rudolph's bid a 22% discount to its current price. August also trades at a discount to its stock-swap agreement with Nanometrics.
The lack of a confidentiality agreement with Rudolph had been
a pivotal obstacle keeping Rudolph from getting a closer look at August's internal operations and financial results. KLA-Tencor too wants to sign a similar term sheet.
"KLA-Tencor remains willing to enter into a confidentiality agreement with August that would not restrict KLA-Tencor's ability to make superior proposals directly to August's shareholders," said the company in a statement. KLA-Tencor says it is still willing to consider the use of its stock as currency to buy out August.
Based on August's current trading price, a 4.2% stake would cost roughly $9 million and amount to almost 750,000 shares.