JP Morgan Comments On AMAT's Pending Acquisition Of VSEA

JP Morgan has published a research report on Applied Materials' AMAT pending acquisition of Varian Semiconductor VSEA, which is still pending approval from the US Department of Justice. In the report, JP Morgan writes, "The company remains very positive toward the deal, and we do not believe there is sufficient reason for Applied to want to renegotiate the terms. Varian adds a very strong portfolio of SemiCap and solar products to Applied's arsenal, and we believe this deal has been in the making for a number of years." JP Morgan currently has a Neutral rating on Applied Materials, which closed Friday at $11.44 and an Overweight rating on Varian Semiconductor, which closed at $58.51.