ASM International NV (ENXTAM:ASM) agreed to acquire LPE S.p.A. for approximately €430 million on July 18, 2022. The purchase price will be paid with €283.25 million in cash, and with 0.631154 million ASM shares, which will represent an enterprise value of €425 million on a cash and debt free basis. An additional amount of up to €100 million will be paid by way of an earn out based on certain performance metrics over a two-year period after the closing of the transaction.

Following the closing of the transaction, LPE will operate as a product unit under ASM's Global Products organization. LPE will continue to be based in Italy, with technology and manufacturing centers in Milan and Catania. The transaction is subject to FDI and anti-trust approval in a limited number of countries and other customary closing conditions which are expected to be met by the long stop date of November 10, 2022.

Absent a closing by this date, the parties will discuss in good faith on an exclusive basis for a period of six months with the aim to still close the transaction.