Applied to acquire Etec in $1.7 billion deal

The agreement states that each 1.0 share of Etec's stock will be exchanged for .649 shares of Applied Materials common stock. Etec currently has 21.5 million outstanding shares, valuing the deal at $1.7 billion.

By Meg Villeneuve, Associate Editor

Following two consecutive quarters of depressed operating results at Align-Rite, Photronics (PLAB) and Align-Rite (MASK) have amended their original merger deal from September 1999. The deal is now valued at roughly $114 million at recent share prices.


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