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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: sixty2nds who wrote (28813)	2/23/2006 4:24:46 PM
From: sixty2nds	Read Replies (2) \| Respond to of 95663

14:40 KLAC KLA-Tencor: Color on ADE Corp acquisition (52.12 +0.26) -Update- Hambrecht notes that this morning KLAC announced that it will acquire ADEX. Based on KLAC's closing price yesterday, firm says the deal valued ADEX at $33.19, a 7.2% premium over the co's closing price; however, normalizing for the recent surge in ADEX, firm estimates that the premium is arguably north of 20%. Firm thinks this deal is a win-win for both KLAC and ADEX, as the former gets an entre into ADEX-dominated bare-wafer dimensional metrology market and access to new ADEX tools that have been gaining traction, and their preliminary analysis indicates that the combination will be neutral to slightly accretive to KLAC in the first twelve months. Ultimately, firm thinks this may be a new chapter in KLAC's drive to aggressively grow the com. Reits Buy and $58 tgt on KLAC.