Semiconductor equipment maker ASM International NV [ASMI] said Friday it had received an unsolicited approach worth up to $500 million from Applied Materials Inc. [AMAT], which is seeking to buy two units.

Applied Materials, of Santa Clara, Calif., indicated orally that it would be willing to pay between $400 million and $500 million for ASM's atomic layer deposition and plasma enhanced chemical vapor deposition activities, the target said. The units make equipment used to deposit films on silicon wafers.

ASM, based in Bilthoven, the Netherlands, said the disposals "would have major implications for ASMI's current strategy and business model."

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