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Wednesday, October 29, 2014

Tokyo Electron: merger with Applied Materials could be delayed to next year, (NASDAQ: AMAT)

Tokyo Electron Ltd, which is expected to be acquired by the world's largest chipmaking equipment maker, Applied Materials Inc, said completion of the merger could take until next year due to delays in regulatory approvals. "We cannot deny the possibility of a delay in the merger completion until next year," Yoshiteru Harada, corporate director at Tokyo Electron, said on Wednesday.In September last year U.S.-based Applied Materials agreed to purchase Tokyo Electron in an all-stock deal worth more than $10 billion, combining the two makers of chip-making gear as demand for their products slowed.Shareholders of both companies have approved the transaction, which is currently expected to complete on Dec. 30, three months later than the original schedule.

Applied Materials, Inc. (Applied) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries. Shares of AMAT traded higher by 0.97% or $0.205/share to $21.24. In the past year, the shares have traded as low as $16.40 and as high as $23.46. On average, 13151000 shares of AMAT exchange hands on a given day and today's volume is recorded at 10944348.