The price, the companies said in a press release, represents a 55% premium to Varian's closing price Tuesday of $40.55, or a 38% premium to Varian's 30-day average closing price.
Varian supplies ion implantation equipment used by chipmakers.
Applied Materials said the transaction is expected to be accretive to its earnings on a non-GAAP basis in the first year."Varian is a great fit for our strategy to profitably grow share in our core semiconductor business with best-in-class technology and talent," said Mike Splinter, Applied Materials' chairman and CEO, in a statement. -- Written by Joseph Woelfel
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