Applied Material Inc. (AMAT) to acquire Semitools Inc. (SMTL)
By Mark Moneymaster
November 17, 2009 1:14 PM
November 17, 2009 1:14 PM
Applied Materials Inc. (NASDAQ: AMAT) plans to acquire Semitool Inc. (NASDAQ: SMTL) for $364 million in cash by the end of the year, bolstering Applied Material Inc. (AMAT) advanced-packaging and copper-conversion efforts.
The $11 a share offer is a 31% premium over the Monday's closing. In light of the same, the Semitool Inc. (SMTL) stock has already caught up with the acquistion price, and has soared on high volumes to $30.5.
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