Applied Materials' tender offer for Semitool shares expires Dec. 17

By Lisa Kerner

Charlotte, N.C., Nov. 19 - Applied Materials, Inc. began its $11-per-share cash tender offer for all the outstanding shares of Semitool, Inc. common stock, it was announced on Thursday.

The offer will end at midnight ET on Dec. 17, according to an Applied Materials news release.

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

Semitool's board of directors recommended the offer to its shareholders, the release said.

BNY Mellon Shareowner Services is the depositary for the offer. The information agent for the offer is Innisfree M&A Inc.

The offer is conditioned on the tender of at least two-thirds of Semitool's outstanding stock on a fully diluted basis, Applied Materials said.

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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