FSI Investor Challenges $252M Tokyo Electron Deal

Law360, Wilmington (August 22, 2012, 7:40 PM EDT) -- An FSI International shareholder launched a putative class action Wednesday seeking to block Tokyo Electron Ltd.'s $252 million buyout of the microelectronics support services firm, saying the deal shortchanges investors.

Adrian Calleros alleges in a Delaware Chancery Court complaint that the $6.20-per-share deal fails to account for FSI’s positive financial outlook and that the Minnesota-based company’s directors ignored their duty to shareholders by signing off on it.

“In pursuing the unlawful plan to facilitate the acquisition of FSI by TEL for grossly inadequate consideration and through...
To view the full article, register now.