Applied Materials' tender offer for Semitool clears waiting period

By Lisa Kerner

Charlotte, N.C., Dec. 17 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in Applied Materials, Inc.'s $11-per-share cash tender offer for Semitool, Inc., according to an Applied Materials news release.

The tender offer was scheduled to expire at midnight ET on Thursday.

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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