October 29, 2014 / 7:20 AM / 5 years ago

Tokyo Electron: merger with Applied Materials could be delayed to next year

TOKYO, Oct 29 (Reuters) - Tokyo Electron Ltd, which is expected to be acquired by the world’s largest chipmaking equipment maker, Applied Materials Inc, said completion of the merger could take until next year due to delays in regulatory approvals.

“We cannot deny the possibility of a delay in the merger completion until next year,” Yoshiteru Harada, corporate director at Tokyo Electron, said on Wednesday.

In September last year U.S.-based Applied Materials agreed to buy Tokyo Electron in an all-stock deal worth more than $10 billion, combining the two makers of chip-making gear as demand for their products slowed.

Shareholders of both companies have approved the transaction, which is currently expected to complete on Dec. 30, three months later than the original schedule. (Reporting by Junko Fujita; Editing by Chang-Ran Kim)

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