Applied Materials, Inc.
announced that the amended Kokusai Electric Corporation share purchase agreement with KKR HKE Investment L.P. terminated as of March 19, 2021, as Applied did not receive confirmation of timely approval from the regulator in China.
Applied is paying KKR a termination fee of $154 million in cash.
“While we are disappointed that the transaction will not be completed, Applied Materials’ future outlook has never been better,” said Gary Dickerson, president and CEO of Applied Materials. “Our innovations are accelerating our customers’ roadmaps and we have outstanding opportunities to extend our technology leadership, drive profitable growth and deliver attractive cash returns to shareholders.”