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).
Tokyo Electron
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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.
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.
In a Bloomberg report, the news agency said that Applied Materials Inc Chief Executive Officer Gary Dickerson's dedication to close his company's USD9.39 billion Tokyo Electron Ltd acquisition would lead him to, according to sources, move his family to Tokyo.
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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