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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2767)	5/4/2011 12:28:05 PM
From: richardred	Respond to of 7239

Texas Instruments got the ball rolling-Another nice premium for a semi company. Applied Materials Connects With Varian Semi 05.04.11, 11:15 AM ET Applied Materials has agreed to acquire Varian Semiconductor for $63 per share in cash, for a total purchase price of $4.9 billion. Applied Materials noted the price is a 55% premium to Varian Semiconductors' closing price Tuesday, and a 38% premium to its 30-day average closing price. The leasing supplier of ion implantation equipment used by chipmakers, complements Applied Materials' Silicon Systems Group's suite of products. Varian will operate as a business unit of the Silicon Systems Group, and will continue to be based in Gloucester, Mass. Applied Materials expects the transaction to be accretive to earnings on a non-GAAP basis in the first year after completion. The boards of both companies approved the deal, though it still faces approval by regulators and Varian shareholders. forbes.com