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Lam Research Corp
LRCX agreed to buy Novellus Systems Inc
NVLS for $3.3 billion in stock.
Under the trems of the deal, stockholders of NVLS will receive 1.125 shares of Lam Research common stock for each Novellus share held, representing a 28% premium over the stock's closing price on Wednesday.
The deal is likely to close in the second quarter of 2012.
NVLS shares surged 20.12% to $41.68 in after-hours trading, while LRCX shares fell 4% to $37.90 in after-hours trading.
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