Key Developments For Applied Materials, Inc.
Applied Materials, Inc. (AMAT.O) (Nasdaq)
Applied Materials, Inc. Updates On Semitool, Inc. Tender Offer
Applied Materials, Inc. announced that it has voluntarily withdrawn its premerger notification and report form under the Hart Scott Rodino Antitrust Improvements filed on November 17, 2009 in connection with its announced $11.00 per share cash tender offer for all outstanding shares of Semitool, Inc. Applied intends to re-file its premerger notification and report form with the U.S. Federal Trade Commission and U.S. Department of Justice (DOJ) on December 4, 2009, in order to begin a new waiting period under the HSR Act and provide the DOJ with additional time to conclude its review of the proposed acquisition. Applied remains committed to working cooperatively with the DOJ as the DOJ conducts its review of the proposed acquisition. The new waiting period under the HSR Act will expire on December 21, 2009, unless this period is earlier terminated. The tender offer is expected to close later this month, subject to customary closing conditions. Unless the tender offer is extended, the offer and withdrawal rights will expire on December 17, 2009. If, as of December 17, 2009, the waiting period under the HSR Act has not been earlier terminated by the DOJ, Applied expects to extend the tender offer so that it expires concurrently with or after the waiting period under the HSR Act.
Applied Materials, Inc. Commences Tender Offer For All Outstanding Shares Of Semitool, Inc.
Applied Materials, Inc. announced the commencement of its tender offer for all outstanding shares of common stock of Semitool, Inc. for $11.00 per share, net to the seller in cash, without interest and less any required withholding tax. The tender offer is being made in connection with the Agreement and Plan of Merger among Applied Materials, its wholly owned subsidiary, Jupiter Acquisition Sub, Inc., and Semitool, announced on November 17, 2009, and pursuant to an Offer to Purchase dated November 19, 2009. The tender offer is scheduled to on December 17, 2009, unless extended. Following completion of the tender offer and, if required, receipt of approval by Semitool`s shareholders, Applied Materials expects to cause its acquisition subsidiary to consummate a merger with Semitool. In this merger, any remaining Semitool shareholders (other than shareholders who properly assert dissenters` rights under Montana law) will receive the same $11.00 cash purchase price per share, without interest and less any required withholding tax, as paid in the tender offer. The tender offer is subject to the conditions described in the Offer to Purchase, including the acquisition by Jupiter Acquisition Sub of more than 66 2/3% of Semitool's outstanding stock on a fully diluted basis, regulatory approval and other customary closing conditions.
Applied Materials, Inc. To Acquire Semitool, Inc.
Applied Materials, Inc. and Semitool, Inc. announced a definitive agreement for Applied to acquire the outstanding shares of Semitool for $11 per share in an all-cash tender offer. Under terms of an agreement approved by the boards of directors of both companies, Applied Materials will pay an aggregate purchase price of approximately $364 million based on the fully diluted capitalization of Semitool. The acquisition will be conducted pursuant to a tender offer for all of the outstanding shares of Semitool and is conditioned on the tender of at least 66 2/3 percent of Semitool`s outstanding stock on a fully-diluted basis and other customary closing conditions including regulatory approval. Directors and executive officers of Semitool holding approximately 32 percent of Semitool`s outstanding common stock have entered into agreements to tender their shares. Following completion of the tender offer, Applied will acquire any remaining shares of Semitool through a second-step merger at the same price paid in the tender offer. Semitool will be operated as a business unit of Applied`s Silicon Systems Group.
Applied Materials, Inc. Issues FY 2010 Revenue Guidance Above Analysts' Estimates
Applied Materials, Inc. announced that it expects net sales to grow by more than 30% percent in fiscal 2010. The Company reported revenue of $4.797 billion in fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $6.214 billion for fiscal 2010.
Applied Materials, Inc. Acquires Assets Of Advent Solar, Inc.
Applied Materials, Inc. announced that it has acquired substantially all the assets, including the intellectual property, of Advent Solar, Inc. for an undisclosed cash amount. Advent Solar is a developer of advanced technology for crystalline silicon (c-Si) PVs.
