22 February 2016

Lam's acquisition of KLA-Tencor approved by stockholders

At respective meetings for both firms (held on 19 February), stockholders of deposition, etch and wafer-cleaning equipment maker Lam Research Corp of Fremont, CA, USA approved the issuance of shares required to complete the acquisition of KLA-Tencor (agreed on 20 October 2015), while stockholders of process control and yield management solutions provider KLA-Tencor Corp of Milpitas, CA, USA approved the adoption of the merger agreement.

At the special meeting of Lam Research stockholders, about 99% of the votes were cast in favor of the proposal to issue shares of common stock to KLA-Tencor stockholders in connection with the merger.
At the special meeting of KLA-Tencor stockholders, about 99% of the votes (representing about 75% of the outstanding shares of KLA-Tencor entitled to vote on the proposal) were cast in favor of the proposal to adopt the merger agreement.

The other matters presented at the special meetings relating to the merger agreement described in the joint proxy statement/prospectus of Lam Research and KLA-Tencor were also approved by the Lam Research or KLA-Tencor stockholders, respectively.

"We are progressing toward the successful integration of Lam and KLA-Tencor and remain confident that we can secure approvals necessary to complete the transaction in mid-2016," says Lam Research's president & CEO Martin Anstice.

Tags: Lam Research KLA-Tencor

Visit: www.kla-tencor.com

Visit: www.lamresearch.com