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|Item 8.01|| |
On March 29, 2021, Applied Materials, Inc. (“Applied”) issued a press release announcing that the Share Purchase Agreement, among Applied, Kokusai Electric Corporation, and KKR HKE Investment L.P., as amended, terminated as of March 19, 2021, and Applied is paying KKR a termination fee of $154 million. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
|Item 9.01|| |
Financial Statements and Exhibits.
|99.1||Press Release issued by Applied dated March 29, 2021.|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document).|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Applied Materials, Inc.
|Date: March 29, 2021||By:|
|Teri A. Little|
|Senior Vice President, Chief Legal Officer and Corporate Secretary|
Applied Materials Announces Termination of Kokusai Electric Acquisition Agreement
SANTA CLARA, Calif., March 29, 2021 Applied Materials, Inc. today announced that the amended Kokusai Electric Corporation share purchase agreement with KKR HKE Investment L.P. terminated as of March 19, 2021 as Applied did not receive confirmation of timely approval from the regulator in China. Applied is paying KKR a termination fee of $154 million in cash.
While we are disappointed that the transaction will not be completed, Applied Materials future outlook has never been better, said Gary Dickerson, president and CEO of Applied Materials. Our innovations are accelerating our customers roadmaps and we have outstanding opportunities to extend our technology leadership, drive profitable growth and deliver attractive cash returns to shareholders.
About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible the technology shaping the future. Learn more at www.appliedmaterials.com.
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Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (financial community) 408.986.7977