Applied Materials Announces Termination of Kokusai Electric Acquisition Agreement
March 29 2021 - 7:30AM
Applied Materials, Inc. today announced that the amended Kokusai
Electric Corporation share purchase agreement with KKR HKE
Investment L.P. terminated as of March 19, 2021 as Applied did not
receive confirmation of timely approval from the regulator in
China. Applied is paying KKR a termination fee of $154 million in
cash.
“While we are disappointed that the transaction will not be
completed, Applied Materials’ future outlook has never been
better,” said Gary Dickerson, president and CEO of Applied
Materials. “Our innovations are accelerating our customers’
roadmaps and we have outstanding opportunities to extend our
technology leadership, drive profitable growth and deliver
attractive cash returns to shareholders.”
About Applied MaterialsApplied Materials,
Inc. (Nasdaq: AMAT) is the leader in materials engineering
solutions used to produce virtually every new chip and advanced
display in the world. Our expertise in modifying materials at
atomic levels and on an industrial scale enables customers to
transform possibilities into reality. At Applied Materials,
our innovations make possible the technology shaping the future.
Learn more at www.appliedmaterials.com.
Contact:Ricky Gradwohl (editorial/media)
408.235.4676Michael Sullivan (financial community) 408.986.7977
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