Semitool investor buys more shares ahead of Applied Materials merger

By Lisa Kerner

Charlotte, N.C., Dec. 10 - A group of Semitool, Inc. investors led by Gabelli Funds, LLC bought 412,948 shares on Dec. 7 through Dec. 9, according to a schedule 13D/A filed on Thursday with the Securities and Exchange Commission.

Each share was purchased for $10.96 or $10.97.

Between Nov. 30 and Dec. 4, the investors bought 346,751 shares priced at $10.96 or $10.97 each for a total stake in Semitool of 7.96%, a prior SEC filing said.

As previously reported, Semitool agreed to be acquired by Applied Materials, Inc. for $11.00 per share in an all-cash tender offer valued at $364 million.

The tender offer ends at midnight ET on Dec. 17.

Gabelli beneficially owns 3,017,447 shares, or 9.22%, of Semitool's outstanding stock.

Semitool, based in Kalispell, Mont., supplies electrochemical plating and wafer surface preparation equipment to chip-packaging and chip-making companies.

Applied Materials is a Santa Clara, Calif., manufacturer of semiconductor equipment.

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