Corporate
Dec. 15, 2011
Jones Day, MoFo advise on Lam's $3.3 billion Novellus buy
Fremont-based Lam Research Corp. agreed to buy San Jose-based Novellus Systems Inc. in a $3.3 billion all stock deal.
By Robert Pierce
Daily Journal Staff Writer
Fremont-based Lam Research Corp. agreed to buy San Jose-based Novellus Systems Inc. in a $3.3 billion all stock deal.
Both companies make semiconductor equipment. Lam expects the buy to be accretive to its earnings within a year of the deal's close. Novellus stockholders will receive 1.125 shares of Lam Research stock for each share of Novellus Systems stock they own, in a tax-free exchange.
Jones Day advised Lam R...
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