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Applied Materials has now completed its total acquisition of Semitool. This purchase is designed to expand Applied's presplementary systemence in the high-growth wafer packaging market as well as offering a platform for coms and technology for advanced semiconductor manufacturing.
Semitool was merged with a wholly-owned subsidiary of Applied on December 21. This merger holds that each outstanding share of Semitool common stock is 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 US$11.00 per share cash tender offer for all outstanding shares of Semitool, which was completed earlier in the month. 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.
