Applied Materials to Acquire Tokyo Electron bit.ly/eA8V8J In a deal that would be one of the biggest-ever foreign takeovers of a Japanese firm, Applied Materials Inc. agreed to acquire Tokyo Electron Ltd. to create to create a powerhouse provider of chip manufacturing equipment. The all-stock deal announced by the two companies on Tuesday is effectively a takeover by Applied and values Tokyo Electron at $9.3 billion, a modest premium to its market value of ¥872.3 billion ($8.8 billion). Shareholders of Applied, valued at $19.7 billion under the deal, will own 68 percent of the new company. Both the CEO and CFO of the new company will come from Applied. Read the rest of this post on the original site »
Posted on: Tue, 24 Sep 2013 17:41:12 +0000