Lam Research to Buy Novellus Systems
Lam Research Corp., which makes equipment used in chip manufacturing, is buying Novellus Systems Inc. in an all-stock deal that values its peer at around $3.3 billion, the companies said.
Novellus shareholders will get $44.42 per share, at an exchange ratio of 1.125 shares of Lam for each Novellus share, which amounts to a premium of about 28% over the Wednesday closing price of Novellus shares.