Applied Materials,
Inc. (Nasdaq:AMAT), the global leader in Nanomanufacturing Technology™
solutions with a broad portfolio of innovative equipment, service and software
products for the fabrication of semiconductor chips, flat panel displays, solar
photovoltaic cells, flexible electronics and energy efficient glass, announced
today that it has completed its acquisition of Semitool, Inc. (Nasdaq:SMTL).
This acquisition expands Applied's capability to address emerging opportunities
in the high-growth wafer packaging market and provides complementary systems
and technology for advanced semiconductor manufacturing.
On December 21, 2009, Semitool was merged with a wholly-owned subsidiary of
Applied. As a result of the merger, each outstanding share of Semitool common
stock (other than shares owned by Applied or Semitool or by shareholders of
Semitool who properly assert dissenters’ rights under Montana law) was
automatically converted into the right to receive $11.00 in cash, without interest
thereon and less any required withholding tax. The merger follows Applied’s
announced $11.00 per share cash tender offer for all outstanding shares of Semitool,
which was completed at 12:00 midnight, Eastern Standard Time, on December 17,
2009. Holders of Semitool common stock who did not tender their shares in the
tender offer will receive a letter of transmittal that will instruct them on
how to receive the merger consideration, as well as a notice and description
of dissenters’ rights for any such holder entitled to assert such rights
under Montana law.
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in Nanomanufacturing
Technology™ solutions with a broad portfolio of innovative equipment,
service and software products for the fabrication of semiconductor chips, flat
panel displays, solar photovoltaic cells, flexible electronics and energy efficient
glass. At Applied Materials, we apply Nanomanufacturing Technology to improve
the way people live.