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LRCX - Lam Research News Story

$608.98 -6.9  -1.1%

Last Trade - 17/09/21

Sector
Technology
Size
Large Cap
Market Cap £63.40bn
Enterprise Value £62.88bn
Revenue £10.61bn
Position in Universe 147th / 7151

UPDATE 1-Chip equipment maker Lam Research ends deal for KLA-Tencor

Wed 5th October, 2016 11:38pm
(Adds details, background) 
    Oct 5 (Reuters) - Semiconductor equipment maker Lam Research 
 LCRX.O  said on Wednesday it had terminated a $10.6 billion 
deal to buy rival KLA-Tencor Corp  KLAC.O . 
    The companies decided against the merger due to antitrust 
concerns raised by the U.S. Department of Justice, according to 
a statement from KLA-Tencor.  urn:newsml:reuters.com:*:nPn543f93a  urn:newsml:reuters.com:*:nMKWLHJp5a 
    Lam Research agreed to buy KLA-Tencor for $67.02 per share 
last year, amid a wave of consolidation in the chip industry. 
    Together, the companies would have commanded a 42 percent 
share of the wafer fabrication equipment market.  urn:newsml:reuters.com:*:nL3N12L2TA 
    KLA-Tencor and Lam Research said in August that regulatory 
clearance for the deal may be delayed beyond Oct. 20. 
    KLA-Tencor also raised its quarterly dividend by 2 cents to 
54 cents per share.  urn:newsml:reuters.com:*:nPn11Tbxa 
    Shares of KLA-Tencor were down 5.8 percent in extended 
trading, while Lam Research's shares fell 2.7 percent. 
 
 (Reporting by Narottam Medhora in Bengaluru; Editing by Don 
Sebastian) 
 ((narottam.medhora@thomsonreuters.com; Within U.S. 
1-646-223-8780, Outside U.S. +91 8067496409 ; Reuters Messaging: 
narottam.medhora.thomsonreuters.com@reuters.net)) 
 
Keywords: KLA TENCOR M&A/LAM RESEARCH
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