(MENAFN) US Applied Materials and Japanese Tokyo Electron announced a merger, creating a USD29 billion company, Qatar News Agency reported.
The agreement will provide Tokyo Electron's shareholders 3.25 shares in the new compay per 1 share in Tokyo Electron, while Applied Materials' shareholders will receive 1 share in the new company for every 1 share in Applied Materials.
When the merger finalizes, Applied Materials' shareholders will own 68 percent of the new company and Tokyo Electron shareholders will hold the remaining 32 percent.
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