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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Atmi Inc. (MM) | NASDAQ:ATMI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 33.98 | 0 | 01:00:00 |
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of ATMI Inc. (NASDAQ: ATMI) breached their fiduciary duties in connection with the planned sale of the Company to Entegris, Inc. ATMI supplies high performance materials, packaging, and materials delivery systems for use in the manufacture of microelectronics devices worldwide.
On February 4, 2014, the Boards of Directors of both companies announced they have unanimously approved a definitive merger agreement under which Entegris will acquire ATMI for a total equity value of approximately $1.15 billion on a fully-diluted basis, or approximately $850 million net of cash acquired, including the net cash proceeds from the sale of ATMI's LifeSciences business of $170 million. Under the terms of the merger agreement, ATMI shareholders will receive $34.00 in cash, without interest or dividends, for each share of ATMI common stock they hold at the time of closing.
The investigation will determine whether ATMI’s directors breached their fiduciary duties to stockholders in connection with the proposed acquisition. Scott Holleman, an attorney for Johnson & Weaver, stated that, “ATMI’s offer appears to be inadequate and not in the best interest of the shareholders.” Holleman continued, “ATMI has no long term debt and revenue growth has been accelerating. Additionally, Entegris expects the deal to be immediately accretive to EPS.”
If you are an ATMI shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker, 619-230-0063 Ext. 118jimb@johnsonandweaver.com
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1 Month Atmi Inc. (MM) Chart |
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