Market Overview

Mattson Technology to Be Acquired by Beijing E-Town Dragon Semiconductor Industry Investment Center for $3.80/Share in Cash


Mattson Technology, Inc. (NASDAQ: MTSN) and Beijing E-Town Dragon Semiconductor Industry Investment Center (Limited Partnership) ("E-Town Dragon"), today jointly announced that they have entered into a definitive merger agreement under which E-Town Dragon will acquire all of the outstanding shares of Mattson for $3.80 per share in cash. The transaction price represents a 55 percent premium to the 30-trading day average closing price for the period ending December 1, 2015, a 23 percent premium to Mattson's closing stock price on December 1, 2015, and values Mattson's equity at approximately $300 million on a fully diluted basis.

Commenting on the proposed acquisition, Fusen Chen, Mattson's President and Chief Executive Officer, said, "In E-Town Dragon, we have found a partner who brings to Mattson unique investment experience with a rich, global network and a commitment to grow Mattson into one of the industry's preeminent semiconductor equipment companies. We are pleased to have entered into this agreement with E-Town Dragon, which we believe represents significant value for our stockholders and will facilitate continued innovation for our customers."

Xiaobo Wang, General Manager of Beijing E-Town Capital, added, "The acquisition of Mattson is representative of E-town's continued commitment to investing in the semiconductor and capital equipment industries. We plan to build upon Mattson's successes and we are excited to provide the resources needed to expand the company going forward."

The transaction is subject to approval by Mattson's stockholders, as well as antitrust and other regulatory approvals. The Mattson Board of Directors has unanimously approved the merger agreement and recommends that Mattson stockholders vote to approve the merger agreement. Details regarding the record date, and the date, time and place of the special meeting of Mattson stockholders to vote on the transaction will be announced at a later date. The transaction is currently expected to close in the first calendar quarter of 2016.

Morgan Stanley & Co. LLC is serving as Mattson's financial advisor and Latham & Watkins is serving as Mattson's outside legal advisor. Cowen and Company, LLC is serving as E-Town Dragon's financial advisor. Pillsbury Winthrop Shaw Pittman and DeHeng Law Offices are jointly serving as E-Town Dragon's outside legal advisors.

Posted-In: M&A News Press Releases


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