By Lisa Kerner
Charlotte, N.C., Feb. 14 - KLA-Tencor Corp. extended its tender offer for Therma-Wave, Inc. to midnight ET March 15, according to a company news release.
The offer, originally scheduled to close Feb. 12, is being reviewed by the German Federal Cartel Office.
Both companies believe the acquisition will receive clearance, according to the release.
On Jan. 8, KLA-Tencor announced a definitive merger agreement to acquire Therma-Wave in a cash tender offer for $1.65 per share, or about $75 million.
KLA-Tencor, based in San Jose, Calif., provides yield management and process control solutions to semiconductor manufacturing and related industries.
Therma-Wave is a Fremont, Calif., developer of proprietary process control metrology products used in semiconductor manufacturing.
| Acquirer: | KLA-Tencor Corp.
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| Target: | Therma-Wave, Inc.
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| Payment per share: | $1.65
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| Announcement date: | Jan. 8
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| Tender offer closes: | March 15
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| Stock price for target: | Nasdaq: TWAV; $1.65 on Feb. 13
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