Applied Materials, Tokyo Electron Terminate Deal - Quick Facts

(RTTNews) - Applied Materials, Inc. (AMAT) and Tokyo Electron Limited announced they have agreed to terminate their Business Combination Agreement as the U.S. Department of Justice (DoJ) has advised the parties that the coordinated remedy proposal submitted to all regulators would not be sufficient to replace the competition lost from the merger. No termination fees will be payable by either party.

Separately, Applied Materials, Inc. announced that its Board has approved a new share repurchase program authorizing up to $3 billion in repurchases over the next three years beginning in the third quarter of fiscal 2015.