Applied Materials' tender offer for Semitool granted German clearance

By Lisa Kerner

Charlotte, N.C., Dec. 7 - Applied Materials, Inc.'s $11-per-share cash tender offer for the outstanding shares of Semitool, Inc. received clearance from the Federal Cartel Office of Germany under German merger control law, it was announced on Monday.

The tender offer ends at midnight ET on Dec. 17.

According to Applied Materials, its premerger notification and report form filed under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 remains pending, with the waiting period due to expire at 11:59 p.m. ET on Dec. 21.

As previously reported, Semitool agreed to be acquired by Applied Materials in an all-cash tender offer valued at $364 million.

Semitool, based in Kalispell, Mont., supplies electrochemical plating and wafer surface preparation equipment to chip-packaging and chip-making companies.

Applied Materials is a Santa Clara, Calif., manufacturer of semiconductor equipment.

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