Merger of Lam Research and KLA-Tencor cancelled

The merger of semiconductor equipment companies Lam Research and KLA-Tencor is cancelled. The reason quoted by Lam in its release is: “After careful review of recent antitrust agency feedback and evaluation of their options, both companies have decided that it is not in the best interest of their respective stakeholders to continue pursuing the merger. In accordance with terms set forth in the merger agreement, no termination fees will be payable by either company”. "We believe that this proposed combination would have resulted in compelling benefits for our customers, employees and stockholders, as well as accelerate innovation in the broader Semi Conductor industry, so we are disappointed with the outcome. However, together with our customers, we have affirmed the value of closer cooperation between process and process control for new enabling solutions, for that reason, we plan to explore collaboration opportunities with KLA-Tencor around programs identified as beneficial to our customers," said Martin Anstice, president and chief executive officer. Anstice continued: "Lam's growth trajectory as a standalone company remains firmly in place. We are more committed than ever to moving forward with the company's mission of creating and delivering increased value to all stakeholders. The need for leading-edge wafer processing capability, particularly those enabling the ke...