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SEZ succumbs to $569 million cash offer from Lam Research |
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Dec 11, 2007 at 12:50 AM |
 Single wafer preparation specialist SEZ, based in Austria and counting major foundries such as TSMC as customers for its fab equipment has announced that Lam Research has acquired the company in a cash deal valuing SEZ at $569 million U.S. dollars.
The SEZ Board of Directors said they fully supported the proposed tender offer, which shows a weighted premium of 53.8 percent to the average share price over the past 60 trading days. Full details of the tender offer are to be disclosed in early January 2008. “We believe that combining SEZ’s leading single-wafer technology with Lam’s innovative linear-clean and plasma technologies will provide manufacturers with a significant competitive advantage,” commented Kurt Lackenbucher, SEZ Chief Operating Officer. “The management of SEZ is convinced this combination will create immense value by delivering new capabilities to our customers that will unlock significant growth opportunities for all involved.” Lam is expected to acquire all outstanding shares of SEZ and will become a new division within Lam focused around single-wafer cleaning technology.
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