Asyst mulls Aquest's $6.50-per-share offer, annual meeting Sept. 16

By Lisa Kerner

Charlotte, N.C., Aug. 13 - Asyst Technologies, Inc. said it will continue to "engage diligently" with Aquest Systems Corp. regarding the company's unsolicited expression of interest.

In July, Aquest proposed acquiring Asyst for $6.50 per share in cash.

According to an Asyst news release, the company offered expedited due diligence under a customary confidentiality agreement so that Aquest could submit a definitive proposal.

Asyst's management will focus on executing the company's strategic plan and will hold its 2008 annual meeting on Sept. 16.

Both Asyst and Aquest develop automation products for the semiconductor industry. Asyst is located in Fremont, Calif., and Aquest is located in Sunnyvale, Calif.

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