Top Japanese chip equipment maker Tokyo Electron (TOELF.PK) is buying U.S. peer FSI...

|About: Tokyo Electron Ltd. (TOELF)|By:, SA News Editor

Top Japanese chip equipment maker Tokyo Electron (TOELF.PK) is buying U.S. peer FSI International (FSII +52.4%) for $6.20/share, or $252.5M, in cash. The price represents a 53% premium to FSI's Friday close. The deal, which will strengthen TEL's wafer surface preparation offerings, could be weighing a little on Lam Research (LRCX -1.4%), which bought Novellus partly for its surface preparation tech. (PR)