ADRs in Focus: ASM jumps on Applied Materials bid

Shares of European chip makers fell with the market Friday, but ASM International NV climbed after Applied Materials Inc. offered to buy two of ASM's units for $400 million to $500 million.

The Dutch semiconductor equipment maker said Applied Materials indicated it would be willing to buy the atomic layer deposition and plasma enhanced chemical vapor deposition businesses. It plans to respond to the bid by June 14.

Applied Materials later confirmed the bid, but warned "there is no assurance that a transaction will result from these discussions."

In the first quarter, the company reported a total of 197.1 million euro, or $310.6 million, in revenue.

American Depositary Receipts of ASM gained $2.31, or 8.8 percent, to close at $28.72. ADRs are securities that allow U.S. investors to trade shares of companies based overseas.

ASM's rivals fell with the market, as stocks dropped following a report from the U.S. Labor Department that showed a strong increase in unemployment for the month of May. The Nasdaq composite index and Standard & Poor's 500 index both fell about 3 percent, and the Dow Jones industrial average lost nearly 395 points.

The Bank of New York Europe ADR index fell 4.37 points, or 2.5 percent, to 170.05.

ADRs of Qimonda AG of Germany lost 10 cents, or 2.3 percent, to $4.24.

ASML Holdings NV slipped $1.23, or 4.2 percent, to $27.97.

Shares of Aixtron AG declined 17 cents to $15.

STMicroelectronics NV shed 58 cents, or 4.5 percent, to $12.24.