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Applied Materials Said to Buy Kokusai Electric

Manuel Baigorri
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Applied Materials Said to Buy Kokusai Electric

(Bloomberg) -- Applied Materials Inc., the biggest maker of machines used to make semiconductors, is buying Kokusai Electric from KKR in a deal worth about 250 billion yen ($2.3 billion), a person with knowledge of the matter said, asking not to be identified because the details aren’t public.Investment firm KKR bought the Japanese mobile phone and wireless communication equipment manufacturer, a former unit of Hitachi, in a tender offer in 2017.A representative for KKR declined to comment. Representatives for Applied Materials didn’t immediately respond to requests for comment.Applied Materials sought to merge with Tokyo Electron in 2015, but the deal was scrapped amid opposition from the U.S. Department of Justice.The proposed deal by Applied Materials to buy Kokusai Electric, first reported by the Nikkei newspaper, is also seen facing scrutiny from regulators.(Corrects Kokusai Electric company name throughout.)To contact the reporter on this story: Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, ;Tom Giles at tgiles5@bloomberg.net, Colum Murphy, Reed StevensonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

(Bloomberg) -- Applied Materials Inc., the biggest maker of machines used to make semiconductors, is buying Kokusai Electric from KKR in a deal worth about 250 billion yen ($2.3 billion), a person with knowledge of the matter said, asking not to be identified because the details aren’t public.

Investment firm KKR bought the Japanese mobile phone and wireless communication equipment manufacturer, a former unit of Hitachi, in a tender offer in 2017.

A representative for KKR declined to comment. Representatives for Applied Materials didn’t immediately respond to requests for comment.

Applied Materials sought to merge with Tokyo Electron in 2015, but the deal was scrapped amid opposition from the U.S. Department of Justice.

The proposed deal by Applied Materials to buy Kokusai Electric, first reported by the Nikkei newspaper, is also seen facing scrutiny from regulators.

(Corrects Kokusai Electric company name throughout.)

To contact the reporter on this story: Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.net

To contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, ;Tom Giles at tgiles5@bloomberg.net, Colum Murphy, Reed Stevenson

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.