Applied Materials Inc. Buys Semitool Inc. For $11 Per Share

Applied Materials Inc. (Nasdaq: AMAT) is buying Semitool Inc. (Nasdaq: SMTL) for $11 a share in an all-cash tender offer.

Applied Materials said the total purchase price is about $364 million. Semitool supplies electrochemical plating and wafer surface-preparation equipment, the company said.