KLA-Tencor Corporation (KLAC)

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Tuesday, April 8, 2008 - 10:10 AM PDT
KLA-Tencor plans to buy Belgian company
Silicon Valley / San Jose Business Journal

KLA-Tencor Corp. said Tuesday it launched a tender offer for ICOS Vision Systems Corp.

The San Jose-based semiconductor testing equipment maker (NASDAQ:KLAC) said the bid price is the equivalent of about $57.33 per share, $51.46 for each 2002 warrant and $8.80 for each 2007 option.

Leuven, Belgium-based ICOS makes inspection equipment for semiconductor packaging and other uses. The tender offer ends May 19.

KLA-Tencor said it expects the transaction to close in the second quarter of this year.

The transaction will takes place only if it meets certain conditions "including the offer acceptance by holders of at least 85 percent of ICOS's outstanding shares, not distributing any new dividend before the completion of the bid and the absence of any material adverse change with respect to ICOS," the company said.