Applied Materials and Tokyo Electron signed a definitive agreement to merge and create a new firm valued at USD 29 billion.
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Tokyo Electron shares sink after takeover by Applied Materials scrapped
Tokyo Electron Ltd (8035.T) shares plunged 15 percent on Tuesday to a six-month low after U.S. regulatory opposition forced the scrapping of its planned takeover by U.S.-based Applied Materials Inc (AMAT.O).
Merger activity rises as markets remain buoyant - report
According to a report by The New York Times, mergers are picking up activity as financial markets worldwide, including the US, are becoming stronger and more stable.
What to watch in the day ahead
The world's largest retailer is likely to provide an update on its layaway program's results and on early indications of whether shoppers are taking to its first holiday specials. Wall Street is waiting to see whether Wal-Mart again cuts its fiscal year forecast.
Many hurdles face Tokyo Electron-Applied Materials merger
As share values jumped, the bigger issues for the Applied Materials-Tokyo Electron merger would be the regulatory approvals from three countries and the length of time for those approvals to be obtained.
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Applied Materials, a chip gear manufacturer, stated it expects foundry clients limit their expenditures during the present quarter as company move to producing smaller chips.
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