Sept 24 Chipmaker Applied Materials Inc
and Tokyo Electron Ltd said they will merge in an
all-stock deal, creating a $29 billion company.
Under the terms of the agreement, Tokyo Electron
shareholders will receive 3.25 shares of the new company for
every Tokyo Electron share held. Applied Materials shareholders
will receive 1 share of the new company for every Applied
Materials share held.
After the close, Applied Materials shareholders will own
approximately 68 percent of the new company and Tokyo Electron
shareholders approximately 32 percent.
The combined company would maintain dual listing on the
Nasdaq and Tokyo Stock Exchange, the companies said in a joint