Saturday, May 25th, 2013
ASML shares surge after news Intel will take a 15 per cent stake
THE ASSOCIATED PRESS
AMSTERDAM, Netherlands — Shares in ASML Holding NV surged Tuesday on news that Intel Corp intends to take a 15 per cent stake in the company for around $3.07 billion and will also help fund its research into new technologies. ASML said other large customers may also take equity stakes.
In early morning trading, shares were 9.4 per cent higher at C43.475
ASML, the world’s largest supplier of equipment to computer chip makers, said after the close of trading in New York Monday that it may issue up to C4.19 billion ($5.15 billion) worth of shares, or a 25 per cent stake, to Intel and others. However, under the deal’s complicated structure, current shareholders would not be diluted, as ASML would distribute the proceeds to existing shareholders, and then carry out a reverse share split.
05:34ET 10-07-12
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