Applied Materials Announces Stockholder Approval of its Proposed Combination with Tokyo Electron
June 23 2014 - 4:05PM
SANTA CLARA, Calif., June 23, 2014 - Applied
Materials, Inc. (NASDAQ: AMAT) announced today that its
stockholders have approved its proposed business combination with
Tokyo Electron Limited (TSE: 8035).
Approximately 99 percent of the shares voting at
the Applied Materials special meeting of stockholders voted to
adopt the parties' Business Combination Agreement, dated September
24, 2013, as amended. This represents approximately 78 percent of
shares of the company's common stock outstanding as of the May 9,
2014 record date for the meeting.
"Today's strong show of support underscores the
value our merger brings to stockholders," said Gary Dickerson,
President and CEO of Applied Materials. "The combination will
enable us to accelerate development of breakthrough products to
solve our customers' high-value problems better, faster and at
lower cost."
Applied Materials and Tokyo Electron are joining
together to create a new global innovator for the semiconductor and
display industries. This combination brings together complementary
leading technologies and products to create an expanded set of
capabilities in precision materials engineering and patterning.
The closing of the business combination remains
subject to customary conditions set forth in the Business
Combination Agreement, including review by regulators in various
countries. Applied Materials expects the transaction to close in
the second half of 2014.
Forward-Looking
Statements
This press release contains forward-looking statements, including
but not limited to those regarding the proposed business
combination (the "Business Combination") between Applied and Tokyo
Electron Limited ("TEL"). These statements may discuss the
anticipated manner, terms and conditions upon which the Business
Combination will be consummated, trends and the future performance
of their businesses, the synergies of Applied and TEL, and similar
matters. Forward-looking statements may contain words such as
"expect," "believe," "may," "can," "should," "will," "forecast,"
"anticipate" or similar expressions, and include the assumptions
that underlie such statements. These statements are subject to
known and unknown risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such statements, including but not limited to: the ability of the
parties to consummate the Business Combination in a timely manner
or at all; Applied's and TEL's ability to successfully integrate
their operations and businesses, and realize synergies expected to
result from the Business Combination; unknown, underestimated or
undisclosed commitments or liabilities; the level of demand for the
combined companies' products; Applied's and TEL's ability to
develop, deliver and support a broad range of products, expand
their markets and develop new markets; and other risks described in
Applied's filings with the Securities and Exchange Commission
("SEC") and the S-4 registration statement filed with the SEC by
TEL-Applied Holdings B.V. ("HoldCo"). All forward-looking
statements are based on management's estimates, projections and
assumptions as of the date hereof. Except as required under
applicable law, neither Applied nor HoldCo undertakes any
obligation to update any forward-looking statements.
About Applied
Materials
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
precision materials engineering solutions for the semiconductor,
flat panel display and solar photovoltaic industries. Our
technologies help make innovations like smartphones, flat screen
TVs and solar panels more affordable and accessible to consumers
and businesses around the world. Learn more at
www.appliedmaterials.com.
# # #
CONTACT:
Kevin Winston (editorial/media)
408.235.4498
Michael Sullivan (financial community) 408.986.7977
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Applied Materials via Globenewswire
HUG#1799730
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