(MENAFN) Japan's chip giant Tokyo Electron and US rival Applied Materials said they canceled the merger after competition regulators rejected the multi-billion dollar deal, AFP reported.
The announcement comes days after Comcast and Time Warner Cable said they had canceled their mega-merger plans, due to opposition by the US Department of Justice to the whopping USD45 billion tie-up.
Applied Materials announced it has scrapped its nearly USD10 billion bid for Tokyo Electron, first announced in 2013, saying that proposed tweaks to the deal did not convince the Department of Justice (DoJ).
"Based on the DoJ's position, Applied Materials and Tokyo Electron have determined that there is no realistic prospect for the completion of the merger," the US firm said in a statement.
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