Semiconductor wafer processing equipment provider Mattson Technology, Inc. (MTSN) and Beijing E-Town Dragon Semiconductor Industry Investment Center have entered into a definitive merger agreement for E-Town Dragon to acquire all 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. It values Mattson's equity at around $300 million.
The Mattson Board of Directors has unanimously approved the merger agreement. The board recommended that Mattson stockholders vote to approve the merger agreement. The transaction is currently expected to close in the first calendar quarter of 2016.
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