The Deal
Monday, October 6, 
11:02 am

[Posted on May 6, 2008 - 11:21 AM]


Aquest Systems Corp. and private equity firm The Gores Group LLC said in a statement Tuesday they are withdrawing their proposal to buy Asyst Technologies Inc. for as much at $298 million.

The would-be acquirers said semiconductor equipment maker Asyst has refused to enter into discussions. Buyout shop Gores and Aquest, a vehicle set up by former Asyst CEO Mihir Parikh, had proposed buying Asyst in February for between $5 and $6 per share. Asyst closed at $3.63 per share on Monday.

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