Deals
Lam to Buy KLA-Tencor in $10.6 Billion Chip Machinery Deal
- Merger creates equipment company with $8.7 billion in sales
- Pact comes 6 months after antitrust ended another merger
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Lam Research Corp. agreed to acquire KLA-Tencor Corp. in a $10.6 billion cash-and-stock deal, testing regulators six months after a smaller merger between chip-equipment suppliers was halted over antitrust concerns.
KLA-Tencor shareholders can elect to receive $32 in cash and 0.5 of a Lam Research common share, in all-cash, all-stock, or a combination, according to a statement Wednesday. The offer values KLA-Tencor at about $67.02 a share, or 24 percent more than the stock’s closing price on Tuesday in New York.