Applied Materials raises offer for Kokusai Electric 59%
The US maker of machines used to manufacture semiconductors will pay KKR $3.5bn and also extends the closing deadline
San Francisco — Applied Materials, one of the largest makers of machines used to manufacture semiconductors, said it has raised its offer for KKR-owned Kokusai Electric by 59%, citing higher valuations in a growing industry. It also extended the closing deadline by almost three months.
The US company will pay KKR $3.5bn, up from the originally agreed $2.2bn, for Kokusai, Applied said in a filing. The two parties have agreed to a new closing date of March 19 to allow for regulatory approval from China, the final remaining jurisdiction where sign-off is needed...