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Tokyo Electron Ltd to Integrate with Applied Materials Inc


Tuesday, 24 Sep 2013 06:00am EDT 

Tokyo Electron Ltd announced that it has signed a business integration agreement with Applied Materials Inc on September 24, 2013. One Tokyo Electron share will be exchanged to 3.25 shares of a holding company to-be-established in Netherlands (the holding company), through the holding company's Japan-based subsidiary. One Applied Materials share will be exchanged to one share of the holding company, through the holding company's sub-subsidiary. As a result, Tokyo Electron Ltd will become a subsidiary of the holding company. Applied Materials will become a sub-subsidiary of the holding company. The holding company will list its stock on the Tokyo Stock Exchange and NASDAQ.