WILMINGTON, Del., Nov. 10, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed on behalf of stockholders of BTU International Inc. (Nasdaq:BTUI) ("BTU" or the "Company") seeking to challenge the Company's recently announced merger.
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On October 22, 2014, BTU and Amtech Systems Inc. ("Amtech") announced the signing of a definitive merger agreement pursuant to which Amtech will acquire BTU in a merger. As a result of the merger, BTU shareholders are only anticipated to receive 0.3291 shares of Amtech (worth approximately $3.33 per share) in exchange for each share of BTU.
The consideration BTU shareholders are expected to receive is significantly inadequate. Based on Amtech's closing price as of October 21, 2014, BTU shareholders are only expected to receive 0.3291 shares of Amtech, representing only a meager 4% premium. When considering the Company just recently traded at $3.45 per share on October 3, 2014, BTU shareholders will be receiving no premium for their shares. Additionally, following the merger, BTU shareholders are expected to be substantially diluted, owning only 23.9% of the combined company.
On November 4, 2014, a BTU shareholder filed a class action complaint challenging BTU's merger with Amtech. The complaint was filed in the Delaware Court of Chancery, Case No. 10310.
If you own shares of BTU and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/BTUI or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.