Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of the Proposed Sale of ATMI Inc. to Entegris, Inc.
05 February 2014 - 2:01AM
Business Wire
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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