Posted on 04/05/2021 6:57:52 AM PDT by SunkenCiv
Semiconductor equipment maker Applied Materials (AMAT) on Monday terminated its planned acquisition of Japanese peer Kokusai Electric from global investment firm KKR. AMAT stock fell on Monday. [3/21]
Santa Clara, Calif.-based Applied Materials had announced its intent to buy Kokusai for $2.2 billion in cash in July 2019. The purchase price later rose to $3.5 billion after Applied Materials negotiated a deadline extension. But the parties ultimately were unable to secure approval for the transaction from Chinese regulators. Applied Materials has agreed to pay KKR a deal termination fee of $154 million in cash.
(Excerpt) Read more at investors.com ...
AMAT fell off its 52-week high, the shares buyback should have been the focus when the stock price was lower. The other IBD "article" is a press-release puff piece on Gary Dickerson.
[snip] Hirofumi Hirano, CEO of KKR Japan, told Nikkei the private equity firm would seek to list Kokusai Electric on its own. Kokusai Electric was spun off from the Hitachi group. [/snip]
China exercised its economic muscle by blocking a deal that would help the US and Japanese high tech spaces. First of many in the Xiden Era of Terminal Decline.
/bingo
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