Tokyo Electron Acquires FSI International

Tokyo Electron Limited (Tokyo; TEL) has signed an agreement to acquire FSI International (Chaska, MN) for approximately $252.5 million, or $6.20/share in cash. The acquisition was unanimously approved by the boards of directors of TEL and FSI and the transaction is expected to close in calendar year 2012. TEL says it wants to improve its market position in surface preparation for semiconductor manufacturing, and FSI provides cleaning and surface preparation equipment with complement process capabilities. “FSI has a long history as a technology innovator in...

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