Applied Materials Will Acquire Kokusai Electric For $2.2B

Applied Materials, Inc AMAT announced plans to acquire Kokusai Electric from KKR & Co Inc KKR for $2.2 billion.

The transaction has been approved by the Applied Materials board of directors and is expected to close within approximately 12 months, subject to regulatory approval.

Following the close of the transaction, Kokusai Electric will operate as a business unit of Applied's semiconductor products group and continue to be based in Tokyo, with technology and manufacturing centers in Toyama, Japan and Cheonan, Korea.

Applied Materials shares traded up 3.32% at $46.40 in Monday's pre-market session.

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