Stock Track | ASMPT Shares Plummet as Takeover Talks Fall Through

Stock Track11-11

Shares of ASMPT (00522), a major global provider of semiconductor and electronics equipment, plummeted by 7.75% on November 11, 2024, after the company announced that it has ended takeover talks with a potential suitor.

In a statement released on Monday, ASMPT said it has decided to call off negotiations with the unnamed buyer, curbing media speculation around the company's possible privatization. Last month, ASMPT had confirmed receiving a takeover bid but did not disclose any financial details or information about the potential acquirer.

The news comes as a disappointment for investors who had been anticipating a potential buyout of ASMPT at a premium price. The company's shares had initially surged more than 11% in early October when reports emerged that global investment firm KKR & Co. was exploring a bid for ASMPT. However, the stock has since declined by over 20%.

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