rpt-chip gear maker kla-tencor to buy orbotech for $3.4 bln

by:Rocket PCB     2019-11-24
(
Repeat to other subscribers)March 19 (Reuters)-
KLA-semiconductor equipment manufacturer
Tencor Corp. said on Monday that it would acquire Orbotech Ltd, whose systems are used to manufacture printed circuit boards and chip equipment, for a transaction value of $3. 4 billion. KLA-
Tencor offers $69
The premium for cash and stocks is 15.
Closing price of 3% to Orbotech stock is $59. 90 on Friday. KLA-
Tencor also announced a $2 billion share repurchase authorization, which is scheduled to be completed within 12 to 18 months of the end of the Orbotech transaction. (
Reports from Sonam Rai in Bangalore;
Edit Savio d Souza)
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