The two leading semiconductor manufacturing equipment companies Applied Materials and Tokyo Electron Limited failed to Merge their businesses due to objection from U.S. Department of Justice (DoJ).
The machinery/equipment to the semiconductor chip manufacturing to leading makers Intel, Samsung and TSMC is supplied by companies such as Applied Materials and Tokyo Electron. The technology developed for processing the semiconductor material is the deciding factor for further continuation of Moore's Law. Semiconductor equipment technologies are more fundamental when it comes to semiconductor chip manufacturing. Applied Materials is an US headquartered company, whereas Tokyo electron is a Japan headquartered company. But both the companies serve global customers in the semiconductor manufacturing.
The failure to merge resulted in dropping of share prices for both Applied Materials and Tokyo Electron.