News Article
KLA-Tencor and ADE Corporation amend merger agreement
KLA-Tencor Corporation and ADE Corporation jointly announced that they have amended and restated their existing merger agreement to change the consideration that ADE stockholders will receive from KLA-Tencor common stock to $32.50 per share in cash.
According to KLA-Tencor's chief executive officer, Rick Wallace, "We've been receiving great encouragement from our customers as to the benefits that they will realize from this acquisition. The changes to the transaction that we are announcing today should enable us to close the transaction promptly."The transaction will continue to be subject to customary closing conditions, including approval by ADE stockholders. As previously announced, the merger has already been cleared under the U.S. federal antitrust laws. The transaction is expected to close by early in the third calendar quarter of 2006.
