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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Applied Materials, Inc.    AMAT

APPLIED MATERIALS, INC.

(AMAT)
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APPLIED MATERIALS INC /DE : Other Events (form 8-K)

10/01/2020 | 07:03am EST

Item 8.01 Other Events.

Reference is made to that certain Share Purchase Agreement, dated as of June 30, 2019, among Applied Materials, Inc. ("Applied"), Kokusai Electric Corporation ("Kokusai Electric") and KKR HKE Investment, L.P. ("Seller") providing for the purchase by Applied of all of the common shares of Kokusai Electric (the "Agreement").

As previously reported, (i) the Agreement contains certain termination rights by either Applied or Seller, including if the transactions contemplated by the Agreement are not consummated on or before June 30, 2020 (the "Outside Date"), which date may be extended by three months on two separate occasions if, on the applicable date, the only conditions to closing relate to required regulatory approvals and (ii) pursuant to the terms of the Agreement, on June 30, 2020 the parties mutually extended the Outside Date to September 30, 2020.

Pursuant to the terms of the Agreement, on September 30, 2020, Applied and Seller mutually further extended the Outside Date to December 30, 2020.

The parties to the Agreement continue to be actively engaged with the State Administration for Market Regulation of the People's Republic of China to secure the final regulatory approval required to consummate the transactions contemplated by the Agreement.

The foregoing description of the Agreement is subject to, and is qualified in its entirety by, the full text of the Agreement filed as Exhibit 2.1 to the Current Report on Form 8-K filed by Applied on July 1, 2019, which is incorporated herein by reference.

Forward-Looking Statements

This report contains forward-looking statements. These statements and their underlying assumptions, including those regarding the proposed acquisition of Kokusai Electric, are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those stated or implied, including but not limited to the parties' ability to satisfy conditions precedent to consummation of the proposed acquisition in a timely manner or at all, and other risks and uncertainties described in Applied's filings with the Securities and Exchange Commission, including its most recent Forms 10-Q and 8-K. All forward-looking statements are based on management's estimates, projections and assumptions as of the date hereof, and none of Applied, KKR HKE Investment, L.P. and Kokusai Electric assumes any obligation to update them.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 17 106 M - -
Net income 2020 3 528 M - -
Net Debt 2020 770 M - -
P/E ratio 2020 23,3x
Yield 2020 0,97%
Capitalization 81 136 M 81 136 M -
EV / Sales 2020 4,79x
EV / Sales 2021 4,10x
Nbr of Employees 24 000
Free-Float 45,4%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 83,00 $
Last Close Price 88,84 $
Spread / Highest target 12,6%
Spread / Average Target -6,57%
Spread / Lowest Target -30,2%
EPS Revisions
Managers
NameTitle
Gary E. Dickerson President, Chief Executive Officer & Director
Thomas J. Iannotti Chairman
Ginetto Addiego Senior VP-Engineering, Operations & Quality
Daniel J. Durn Chief Financial Officer & Senior Vice President
Omkaram Nalamasu Chief Technology Officer & Senior Vice President
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