Summary
KLA-Tencor Corporation (KLAC) has announced the completion of its acquisition of ICOS Vision Systems Corporation NV. This significant event, reported on June 2, 2008, marks the successful conclusion of a tender offer, with KLA-Tencor acquiring 96.03% of ICOS shares during the initial acceptance period. The acquisition was completed on May 30, 2008, with KLA-Tencor paying EUR 36.50 per share for the tendered shares, totaling approximately EUR 374.15 million. This strategic move is expected to result in KLA-Tencor owning 100% of ICOS after a subsequent squeeze-out process, which has commenced at the same offer price.
Key Highlights
- 1KLA-Tencor Corporation completed the purchase of ICOS Vision Systems Corporation NV shares on May 30, 2008.
- 296.03% of ICOS shares were tendered and purchased in the initial acceptance period of the tender offer.
- 3The acquisition price was EUR 36.50 per share in cash.
- 4The aggregate consideration paid for the tendered ICOS shares was EUR 374,154,273.
- 5KLA-Tencor has initiated a squeeze-out process to acquire all remaining ICOS shares.
- 6The squeeze-out bid is at the same terms (EUR 36.50 per share) and is expected to lead to 100% ownership of ICOS.
- 7The acceptance period for the squeeze-out bid is open until June 17, 2008.