Applied Materials Completes Acquisition of Semitool
22 December 2009 - 4:45AM
Business Wire
Applied Materials, Inc. (Nasdaq:AMAT) announced today that it
has completed its acquisition of Semitool, Inc. (Nasdaq:SMTL). This
acquisition expands Applied’s capability to address emerging
opportunities in the high-growth wafer packaging market and
provides complementary systems and technology for advanced
semiconductor manufacturing.
On December 21, 2009, Semitool was merged with a wholly-owned
subsidiary of Applied. As a result of the merger, each outstanding
share of Semitool common stock (other than shares owned by Applied
or Semitool or by shareholders of Semitool who properly assert
dissenters’ rights under Montana law) was automatically converted
into the right to receive $11.00 in cash, without interest thereon
and less any required withholding tax. The merger follows Applied’s
announced $11.00 per share cash tender offer for all outstanding
shares of Semitool, which was completed at 12:00 midnight, Eastern
Standard Time, on December 17, 2009. Holders of Semitool common
stock who did not tender their shares in the tender offer will
receive a letter of transmittal that will instruct them on how to
receive the merger consideration, as well as a notice and
description of dissenters’ rights for any such holder entitled to
assert such rights under Montana law.
About Applied
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
Nanomanufacturing Technology™ solutions with a broad portfolio of
innovative equipment, service and software products for the
fabrication of semiconductor chips, flat panel displays, solar
photovoltaic cells, flexible electronics and energy efficient
glass. At Applied Materials, we apply Nanomanufacturing Technology
to improve the way people live. Learn more at
www.appliedmaterials.com.
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