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China's SAMR regrets Applied Materials dropped Kokusai Electric buyout

( April 2, 2021, 06:08 GMT | Official Statement) -- MLex Summary: China expressed its regret that US chip-equipment giant Applied Materials scrapped its planned acquisition of Japanese peer Kokusai Electric, according to a statement published today by the country’s State Administration for Market Regulation. The regulator said the deal was in an extended review phase with a deadline of April 15, 2021. The remedy plan submitted by Applied Materials couldn’t ease the regulator’s competition concerns, and SAMR was willing to continue to communicate with the acquirer to find a solution within the review period, the statement said. SAMR and Applied Materials maintained good communication throughout the review process, and the regulator praised the company’s proactive cooperation during the review.The statement follows:...

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