March 19, 2018 / 12:24 PM / 5 months ago

RPT-Chip gear maker KLA-Tencor to buy Orbotech for $3.4 bln

(Repeats to additional subscribers)

March 19 (Reuters) - Semiconductor equipment maker KLA-Tencor Corp said on Monday it would buy Orbotech Ltd, whose systems are used in the manufacturing of printed circuit boards and chip devices, in a deal valued at $3.4 billion.

KLA-Tencor’s offer price of $69.02 in cash and stock represents a premium of 15.3 percent to Orbotech stock’s closing price of $59.90 on Friday.

KLA-Tencor also announced a $2 billion share repurchase authorization, which it plans to complete within 12 to 18 months after the Orbotech deal closes. (Reporting by Sonam Rai in Bengaluru; Editing by Savio D’Souza)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below