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Japan: Record chip maker merger hits a snag

 |  October 29, 2014

A merger poised to create the world’s largest chipmaker has reportedly been delayed until next year.

Reports say Tokyo Electron announced its planned acquisition by Applied Materials will take longer than expected thanks to ongoing regulatory reviews of the deal. In a statement, the firm said it “cannot deny” that the timeline for the transaction must be extended.

According to reports, Tokyo Electron must secure clearance from eight regulators including the US, Japan, China, South Korea, Germany and Taiwan; so far, Singapore and Israel have given their go-ahead for the merger.

The companies announced in September of last year that they planned to combine in a deal that reports say is worth more than $10 billion.

Full content: Reuters

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