Applied Materials (AMAT) Announces Update on Kokusai Electric Acquisition Agreement

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Applied Materials Announces Update on Kokusai Electric Acquisition Agreement

March 22, 2021 8:45 AM EDT

SANTA CLARA, Calif., March 22, 2021 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that the amended Kokusai Electric Corporation share purchase agreement with KKR HKE Investment L.P. may have terminated in accordance with its terms on March 19, 2021 after the parties were unable to confirm timely regulatory approval in China. If Applied does not receive confirmation of timely approval prior to the March 26, 2021 deadline for payment of the termination fee, Applied will treat the agreement as terminated and pay KKR a termination fee... More