Investigation Overview
December 14, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Mattson Technology, Inc. (NASDAQ:MTSN), was announced concerning whether the takeover of Mattson Technology, Inc. by Beijing E-Town Dragon Semiconductor Industry Investment Center for $3.80 per share is unfair to NASDAQ:MTSN stockholders.
The investigation by a law firm concerns whether certain officers and directors of Mattson Technology, Inc. breached their fiduciary duties owed to NASDAQ:MTSN investors in connection with the proposed acquisition.
On December 02, 2015 Mattson Technology, Inc. (NASDAQ:MTSN) and Beijing E-Town Dragon Semiconductor Industry Investment Center (Limited Partnership) jointly announced that they have entered into a merger agreement under which Beijing E-Town Dragon Semiconductor Industry Investment Center will acquire all of the outstanding shares of Mattson Technology, Inc. (NASDAQ:MTSN) for $3.80 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:MTSN shares at $8.50 per share, the investigation concerns whether the offer is unfair to NASDAQ:MTSN stockholders. More specifically, the investigation concerns whether the Mattson Technology Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Mattson Technology, Inc. reported that its annual Total Revenue rose from $119.43 million in 2013 to $178.40 million in 2014 and that its Net Loss of $10.97 million in 2013 turned into a Net Income of $9.88 million in 2014.