SANTA CLARA (dpa-AFX) - Varian Semiconductor Equipment Associates Inc. (VSEA) announced that it received its stockholders approval for its proposed merger with Applied Materials Inc. (AMAT).
The merger was approved by holders of approximately 52.8 million shares of Varian's outstanding common stock, and approximately 237,000 shares voted against the merger. This represents over 99% of the shares present in person or represented by proxy at the special meeting voting in favor of the merger.
Varian said that it continues to expect that the merger will be completed during the second half of 2011. The closing of the merger is subject to the satisfaction or waiver of certain other closing conditions, including, without limitation, the approval of the U.S. Department of Justice under the Hart Scott Rodino Act.
In May 2011, Applied Materials had said that it agreed to acquire Varian Semiconductor Equipment Associates for $63 per share or about $4.9 billion in cash on a fully-diluted basis.
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