The acquisition of Novellus, also a maker of equipment to build semiconductors, comes amid increasing complexity in the industry, as chip makers are pressured to create more intricate chips to keep apace with innovation in mobile and cloud computing technology. Lam, of Fremont, Calif. Newberry, vice chairman and chief executive of Lam Research, said in a statement. Under the terms of the deal, Novellus shareholders will receive 1.
Lam Research Enters Into Accelerated Stock Buyback Agreement (NASDAQ:LRCX)
The company said the structure of the deal, combined with the buyback program, would effectively turn the novellus stock buyback into a novellus stock buyback, half-stock deal from a balance sheet perspective. A combination of Lam and Novellus has long been expected.
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Rusli December 14, 6: Related Links The press release.