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Japan: Slowing chip market forces consolidation in $9B deal

 |  September 24, 2013

A deal valued at about $9 billion was announced Tuesday in the electronic chip market that would see the sector’s number-one and number-three companies merge, a move to consolidate in a struggling global market, say reports.

Applied Materials announced plans to acquire Tokyo Electron, creating a new company in which Applied Materials would have a 68 percent share.

The merger marks the largest-ever for Applied Materials, though remains subject to regulatory approval.

Reports say the company has seen a steady decline in net income following a slowdown in the electronics chip market.

Full Content: Reuters

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