Case 5:20-cv-05676-EJD Document 28-4 Filed 10/14/20 Page 1 of 5
`Case 5:20-cv-05676—EJD Document 28-4 Filed 10/14/20 Page 1 of 5
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`Case 5:20-cv-05676-EJD Document 28-4 Filed 10/14/20 Page 2 of 5
`Case 5:20-cv-05676—EJD Document 28-4 Filed 10/14/20 Page 2 of 5
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`BREAKING: Futures Steady After Strong Market Rebound
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`TECHNOLOGY
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`Applied Materials Buys Japanese Chip
`Gear Maker For $2.2 Billion
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`Applied Materials (AMATJ, one of the largest makers of machines used to make
`
`today!
`
`semiconductors, plans to buy Kokusai Electric from private equity company KKR in
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`a deal worth about $2.2 billion in US. currency, the companies said
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`Monday, Applied Materials stock climbed on the news.
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`Currently traded on Japanese
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`exchanges. Kokusai plans to operate as
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`Semiconductor Products Group. Its
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`base remains in Tokyo. the companies
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`a business unit of Applied's
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`said.
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`within 12 months. Applied Materials plans to finance the transaction using a
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`combination of balance sheet cash and a term-loan facility, the statement added.
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`The companies expect the deal to close
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`Santa Clara, Calif.-based Applied Materials dominates the market for equipment
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`involved in the early stages of turningwafers of silicon into computer chips. Its
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`main customers are Samsung Electronics, Intel (INTC) and Taiwan Semiconductor
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`Manufacturing (TSM). Applied Materials had a sales growth spurt under Chief
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`Executive Gary Dickerson as chipma kers ordered more machinery to help solve
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`Case 5:20-cv-05676-EJD Document 28-4 Filed 10/14/20 Page 3 of 5
`Case 5:20-cv-05676—EJD Document 28-4 Filed 10/14/20 Page 3 of 5
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`Meanwhile, investment firm KKR bought Kokusai as part of a tender offer in 2017.
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`Kokusai is a Japanese mobile phone and wireless equipment manufacturer and
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`former Hitachi {HTHIY) unit. Beforethe deal closed, KKR made a bid that valued
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`Kokusai Electric at 3 billion yen, though it's not clear how much KKR ultimately
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`paid.
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`Applied Materials Stock: Buying A Wafer Processing Specialist
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`Kokusai focuses on batch processing. or processing many wafers in parallel.
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`particularly for memory wafers. It also includes Samsung, Taiwan Semiconductor
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`and Intel among its key customers. according to a presentation.
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`The deal expands Applied's Asia footprint, Dickerson said on the investor call.
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`Kokusai currently has an installed base of 10.000 systems. Its 2019 revenue is
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`estimated at $ 1.5 billion, based on international accounting standards.
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`The $470 billion chipmaking industry has consolidated rapidly over the past half
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`decade. That puts pressure on Applied Materials stock to bulk up in turn.
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`Applied Materials sought to merge with Tokyo Electron iTOELY) in 2015. It
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`scrapped the deal amid opposition from the US. Department of Justice. Dickerson
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`planned to move to Japan to run the combined company.
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`The proposed Applied Materials-Kokusai deal also faces scrutiny from regulators.
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`The transaction will need approval from six regulators including those in China,
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`Applied Materials said on the conference call. But it will not need approval from
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`the U.S. Justice Department.
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`Goldman Sachs served as exclusive financial advisor for Applied Materials. Applied
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`Materials stock climbed 1.7% to close at 45.68 on the stock market today.
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`Case 5:20-cv-05676-EJD Document 28-4 Filed 10/14/20 Page 4 of 5
`Case 5:20-cv-05676—EJD Document 28-4 Filed 10/14/20 Page 4 of 5
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`Case 5:20-cv-05676-EJD Document 28-4 Filed 10/14/20 Page 5 of 5
`Case 5:20-cv-05676—EJD Document 28-4 Filed 10/14/20 Page 5 of 5
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