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Strategies & Market Trends : Speculating in Takeover Targets
ULBI 6.920-1.6%9:30 AM EST
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From: E_K_S7/1/2019 8:43:10 AM
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Applied Materials to acquire Kokusai Electric for $2.2B cash
Jul. 1, 2019 6:29 AM ET|About: Applied Materials, Inc. (AMAT)|By: Niloofer Shaikh, SA News Editor

Applied Materials (NASDAQ: AMAT) to acquire all outstanding shares of Kokusai Electric Corporation for $2.2B in cash from global investment firm KKR.

Kokusai Electric is a leading company in providing high-productivity batch processing systems and services for memory, foundry and logic customers.

Kokusai Electric will operate as a business unit of Applied’s Semiconductor Products Group and is expected to be immediately accretive to companys non-GAAP EPS at close.

The transaction will be funded using a combination of balance sheet cash and a term loan facility.

The transaction is expected to close within ~12 months.

AMAT +3.58% premarket.
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