Lam Research to Buy Novellus Systems

Published on December 14, 2011
by Anupreeta Das

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.

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