Applied Materials, Tokyo Electron to Merge in All-Stock Transaction

Applied Materials, Inc.  (NASDAQ:

) and Tokyo Electron Limited (OTC:

) today announced a definitive agreement to create a global innovator in semiconductor and display manufacturing technology via an all-stock combination which values the new combined company at approximately $29 billion (¥2.8 trillion). This combination, which has been unanimously approved by the Boards of Directors of both companies,