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Applied Materials to merge with Tokyo Electron
PV couche mince - Industrie
Samedi, 28 Septembre 2013 19:49

 According to Applied Materials, the transaction, which will be completed through an all-stock combination, will enable the creation of a new entity valued at approximately $29 billion. The boards of directors of both companies have already approved the merger. 

The transaction, however, which is expected to close in mid-to-late 2014, has yet to be approved by regulators and by shareholders of both companies. According to Applied Materials, the transaction, which will be completed through an all-stock combination, will enable the creation of a new entity valued at approximately $29 billion. The boards of directors of both companies have already approved the merger. The transaction, however, which is expected to close in mid-to-late 2014, has yet to be approved by regulators and by shareholders of both companies. 

Under the terms of the agreement, Tetsuro Higashi, the current president and CEO of Tokyo Electron, will be named president of the new entity, while Gary Dickerson, currently the president and CEO of Applied Materials, will be appointed CEO. Tokyo Electron shareholders will receive 3.25 shares of the new company for every Tokyo Electron share held, while Applied Materials shareholders will receive 1 share of the new company for every Applied Materials share held. Once the transaction is completed, Applied Materials shareholders will own 68% of the new company, while the remaining 32% will be owned by Tokyo Electron shareholders. The combined company will maintain dual listing on the NASDAQ and Tokyo Stock Exchange and will have two headquarters, one in Santa Clara, California and one in Tokyo, Japan. Applied Materials said the merger will enable both companies to grow in the display and semiconductor sectors – it didn’t say anything about the companies’ PV businesses.

Applied Materials recorded net sales of $1.98 billion for the third quarter of fiscal 2013, down from $2.34 billion a year earlier. The company’s net result, meanwhile, plunged to $129 million from $289 million and its EBIT fell from $218 million to $168 million. Applied Materials’ Energy and Environmental Solutions (EES) segment, which consists of the company’s PV, glass coating and web coating businesses, achieved net sales of $45 million for the third quarter, down from $77 million last year. However, the segment’s operating result improved – last year’s operating loss of $102 million shrunk to a loss of $27 million in the third quarter of 2013. The EES division recorded new orders totaling $19 million in the quarter, down from $35 million last year. Applied Materials expects overall net sales to be flat sequentially in the fourth quarter. 

Source : PHOTON International

 

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