Lam Research Corporation Announces Successful Preliminary Results of Public Tender...

Mon Feb 11, 2008 9:44pm EST
 
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Lam Research Corporation Announces Successful Preliminary Results of Public Tender Offer for Registered Shares of SEZ Holding AG

FREMONT, Calif.--(Business Wire)--
Lam Research Corporation (NASDAQ:LRCX) today announced, based on
preliminary results, that its cash tender offer for all publicly held
registered shares of SEZ Group (SWX:SEZN) at Swiss Francs (CHF) 38.00
per SEZ registered share has successfully met the condition that more
than 66 2/3% of SEZ shares be tendered.

   By the end of the offer period on February 11, 2008, 4:00 p.m.
Central Europe Time (CET), a total of 12,853,522 SEZ shares
corresponding to 75.95% of all issued SEZ shares, and all SEZ shares
that could be created through the exercise of all outstanding employee
stock options to purchase SEZ shares, have been tendered into the
offer. Based on this, the acceptance level of the tender offer is
75.95%.

   The offer remains subject to certain conditions to be fulfilled,
including without limitation regulatory approvals. There is also a
mandatory period under Swiss law during which additional SEZ shares
may be tendered and will be accepted in addition to those that were
tendered by the end of the offer period. The additional acceptance
period is expected to run from February 13, 2008, through February 26,
2008, at 4:00 p.m. (CET).

   Subject to satisfaction of the remaining conditions, settlement of
Lam's acquisition of and payment for the SEZ shares tendered in the
offer through the additional acceptance period is expected to occur in
March, 2008.

   Following settlement of the tender offer, Lam expects to take
additional steps as necessary to acquire any shares that remain
outstanding. SEZ will become a division within Lam Research offering a
full spectrum of leading edge Single Wafer clean solutions.

   This release is neither a preliminary nor a final announcement of
the interim results of the offer in accordance with the applicable
Swiss takeover laws and has no effect under such laws or any other
takeover laws whatsoever. Reference is made to the respective official
announcements, copies of which will be posted at
www.transactioninfo.info.

   Lam Research Corporation is a major provider of wafer fabrication
equipment and services to the world's semiconductor industry. Lam's
common stock trades on the NASDAQ Global Select Market(TM) under the
symbol LRCX. Lam is a NASDAQ-100(R) company. The Company's World Wide
Web address is www.lamresearch.com.

   The SEZ Group is the leading provider of single-wafer wet-clean
processing solutions for the semiconductor industry, with an installed
base of over 1,200 tools. The company maintains operations in Asia
Pacific, Europe, Japan, and North America. Since 1996, registered
shares of SEZ Holding Ltd. have been traded on the SWX Swiss Exchange
under the symbol SEZN. Additional information about the company is
available on the Internet at www.sez.com.

   Copies of the purchase offer and prospectus and of the
announcements under Swiss law relating to the results of the offer and
upon which this release is based can be accessed at
www.transactioninfo.info.

Lam Research Corporation
Carol Raeburn, 510-572-4450
Senior Director, Investor Relations
carol.raeburn@lamresearch.com

Copyright Business Wire 2008

 

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