Applied Materials, Tokyo Electron To Merge In $29B Deal

Law360, New York (September 24, 2013, 9:22 AM EDT) -- Applied Materials Inc. and Tokyo Electron Ltd. announced their $29 billion merger Tuesday, a stock swap that will create a new global electronics giant and test the "merger of equals" structure on a cross-border scale.

The two companies, which make components like liquid-crystal display screens and microchips, say their merger will better serve mobile-device makers that are hustling to upgrade memory, speed and efficiency.

"Our customers are engaged in a battle for mobile leadership," Gary Dickerson, CEO of California-based Applied Materials, said on a conference call....
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