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​Applied Materials, Tokyo Electron call off merger plan: joint statement

( April 27, 2015, 06:43 GMT | Official Statement) -- MLex Summary: Chipmaking equipment manufacturers Applied Materials and Tokyo Electron have agreed to terminate their planned merger of equals. The decision came after the US Department of Justice, or DOJ, advised the companies that “the coordinated remedy proposal submitted to all regulators would not be sufficient to replace the competition lost from the merger,” the companies said in a joint statement released Monday Tokyo time. Based on the DOJ’s position, Applied Materials and Tokyo Electron determined that there is no “realistic prospect for the completion of the merger,” the statement said.The full statement follows:...

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