BEVERLY, Mass., March 10, 2008 (PRIME NEWSWIRE) -- Axcelis Technologies, Inc. (Nasdaq:ACLS) today confirmed that it has received an unsolicited letter from Japanese company Sumitomo Heavy Industries, Ltd. (SHI) (TSE:6302) proposing to acquire all Axcelis common stock for $6.00 per share. The letter states that SHI does not intend to increase its price again.
The board will thoroughly evaluate this proposal with its independent financial and legal advisors and respond in due course. Axcelis shareholders need not take any action at this time with respect to SHI's unsolicited proposal.
Goldman, Sachs & Co. is acting as financial advisor and Wachtell, Lipton, Rosen & Katz and Edwards Angell Palmer & Dodge LLP are acting as legal advisors to Axcelis.
About Axcelis Technologies, Inc.
Axcelis Technologies, Inc., headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation and cleaning systems. Axcelis also licenses its 50% owned joint venture, SEN Corporation, an SHI and Axcelis Company, to manufacture and sell certain implant products in Japan. The company's Internet address is: www.axcelis.com.