Lam Research (LRCX) on Tuesday said it will buy the silicon growing and fabrication assets of privately held Bullen Ultrasonics for approximately $175 million in cash.
Eaton, Ohio-based Bullen makes machine components for the semiconductor, aerospace and automotive industries; Lam makes semiconductor processing equipment. After the purchase, which is expected to close in 30 to 45 days, the acquired business will become Bullen Semiconductor, a division of Freemont, Calif.-based Lam. "This transaction will enable us to secure a consistent supply of critical silicon materials essential to the performance of our etch chambers," Lam CEO Steve Newberry said. Shares of Lam lost 21 cents to $46.80 in recent after-hours trade.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,776.59 | 1,340.98 | 2,906.52 | 19.78 |
Oil *
117.31
|
|
DOWN
113.87 |
DOWN
10.97 |
DOWN
20.71 |
DOWN
0.69 |
10 Yr
1.98%
SPDR Gold
167.14
|
|
-0.88%
|
-0.81%
|
-0.71%
|
-3.37%
|
Data delayed 20 minutes |
Connect with TheStreet