Semitool investor Gabelli buys more shares prior to company's merger

By Lisa Kerner

Charlotte, N.C., Dec. 7 - A group of Semitool, Inc. investors led by Gabelli Funds, LLC bought 346,751 shares between Nov. 30 and Dec. 4, according to a schedule 13D/A filed on Monday with the Securities and Exchange Commission.

Each share was purchased for $10.96 or $10.97.

Between Nov. 17 and Nov. 27, the investors bought 2,257,748 shares priced from $10.95 to $10.98 each for an initial 6.9% stake in Semitool, 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 2,604,499 shares, or 7.96%, 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.