Mellon HBV Alternative Strategies Raises Stake in ASM Intl (ASMI) to 7.8%

In an amended 13D filing on ASM International NV (Nasdaq: ASMI), Mellon HBV Alternative Strategies LLC disclosed a 7.8% stake (4.1 million shares) in the company. This is up from the 6.6% stake the firm disclosed in a past filing.

The firm said it has proposed to include on the agenda for the upcoming Extraordinary General Meeting scheduled for November 27, 2006 a proposal for Shareholder consideration relating to a resolution or motion on the proposed split between the back end operations and front end operations of the business of the company.

From the filing:

"Mellon HBV, the Reporting Person, is filing this Amendment No. 4 to Schedule 13D relating to ASM International N.V. (the "Issuer" or "ASMI") to disclose recent discussions with the Issuer and an increase in the Reporting Person's beneficial ownership of Common Stock.

MHBV is in discussion with the Issuer regarding matters we believe to be of concern to the Issuer's Shareholders. MHBV has proposed to include on the agenda for the upcoming Extraordinary General Meeting scheduled for November 27, 2006 a proposal for Shareholder consideration relating to a resolution or motion on the proposed split between the back end operations and front end operationsof the business of the Issuer. MHBV and the Issuer are presently discussing the exact nature and scope of the agenda item for the Extraordinary General Meeting.

During the Annual General Meeting of May 19, 2006, the ASMI Board and Supervisory Board have committed themselves to (propose to) adapt the process of appointment and dismissal of board members to the Dutch Corporate Governance standard. Such adaptation at least entails that the present system of binding nominations by the ASMI Board for appointment and that dismissal of Board members can be set aside by a majority shareholders' vote."