Deals
Applied Materials to Buy Tokyo Electron for $9.39 Billion
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Applied Materials Inc., the largest chipmaking-equipment supplier, agreed to acquire Tokyo Electron Ltd. for $9.39 billion in stock in the largest deal for a Japanese company from outside the country in six years.
Gary Dickerson, who was promoted to chief executive officer of Applied Materials this month, will be CEO of the combined manufacturer, the companies said in a statement yesterday. Applied Materials shareholders will own 68 percent of the new entity. Shares of both companies surged.