S&P Reaffirms Ratings on Lam Research (LRCX) Amid Move to Acquire KLA-Tencor (KLAC)
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Go back to S&P Reaffirms Ratings on Lam Research (LRCX) Amid Move to Acquire KLA-Tencor (KLAC)
October 22, 2015 8:45 AM EDT
RBC Capital reiterated an Underperform rating on Lam Research (NASDAQ: LRCX), and raised the price target to $56.00 (from $52.00), following the company's 1Q16 earnings results. Lam introduced CY16 WFE expectation of flat to down slightly, in line with consensus, but optimistic compared to our... More
October 21, 2015 6:09 AM EDT
Lam Research (NASDAQ: LRCX) and KLA-Tencor Corporation (Nasdaq: KLAC) ("KLA-Tencor") today announced that they have entered into a definitive agreement, unanimously approved by the boards of directors of both companies, for Lam Research to acquire all outstanding KLA-Tencor shares in a cash and stock transaction.
KLA-Tencor stockholders will be entitled to elect to receive for the shares of KLA-Tencor stock they hold the economic equivalent of $32.00 in cash and 0.5 of a share of Lam Research common stock, in all-cash, all-stock, or mixed consideration, subject to proration as more fully... More
