Applied Materials to Buy Kokusai Electric from KKR for $2.2 Billion -- Update

Date : 07/01/2019 @ 12:06PM
Source : Dow Jones News
Stock : Applied Materials Inc (AMAT)
Quote : 42.28  -0.96 (-2.22%) @ 5:00AM
After Hours
Last Trade
Last $ 42.40 ▲ 0.12 (0.28%)

Applied Materials to Buy Kokusai Electric from KKR for $2.2 Billion -- Update

Applied Materials (NASDAQ:AMAT)
Historical Stock Chart

1 Year : From Apr 2019 to Apr 2020

Click Here for more Applied Materials Charts.

By Chris Wack

 

Applied Materials Inc. (AMAT) said Monday that it is buying Kokusai Electric Corp. for $2.2 billion in cash from global investment firm KKR & Co. (KKR).

Applied Materials said in a release that, following the close of the transaction, Kokusai Electric will operate as a business unit of its Semiconductor Products Group and continue to be based in Tokyo.

Applied Materials said the acquisition is expected to be immediately accretive to its adjusted earnings per share at close.

In case the deal fails to go through, under certain conditions Applied Materials will pay KKR a termination fee equal to $154 million in cash.

Applied Materials expects to finance the transaction using a combination of balance sheet cash and a term loan facility. The transaction is expected to close within 12 months.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

July 01, 2019 06:51 ET (10:51 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest AMAT Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.