Applied Materials to refile antitrust papers

AP News
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Posted: Dec 02, 2009 5:55 PM

Applied Materials Inc., which is trying to buy fellow chip manufacturing equipment maker Semitool Inc., said on Wednesday it withdrew a premerger notification it had filed to federal antitrust authorities.

The company said it would refile the notification with the Justice Department and Federal Trade Commission on Friday.

Applied Materials has offered $11 each for all outstanding shares of Kalispell, Mont.-based Semitool. The offer, which has been endorsed by Semitool's board, expires at midnight Eastern time on Dec. 17.

Applied Materials shares rose 11 cents to close at $13 on Wednesday. Semitool shares fell a penny to close at $10.98.