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Shareholders of Gloucester-based Varian Semiconductor Equipment Associates (Nasdaq: VSEA) have approved the merger of Varian with Applied Materials inc. (Nasdaq: AMAT), according to Varian.
The shareholders voted at a special meeting late last week, with 99 percent of the shares being voted in favor of the deal, Varian said. The companies expect to close the deal before the end of the year.
In May, the two companies announced that Santa Clara, Calif., semiconductor equipment maker Applied Materials would acquire Varian for $4.9 billion, the companies announced today. The price represented a 55 percent premium to Varian’s close the previous day at $40.55 a share.
Varian, which makes ion implementation equipment used by chip makers, will operate as a business unit of Applied’s Silicon Systems Group and will continue to be based in Gloucester, the companies said.
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