Tokyo Electron shares sink after takeover by Applied Materials scrapped

April 28, 2015 1:15 AM

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TOKYO (Reuters) - Tokyo Electron Ltd (8035.T) shares plunged 15 percent on Tuesday to a six-month low after U.S. regulatory opposition forced the scrapping of its planned takeover by U.S.-based Applied Materials Inc (AMAT.O).

The all-share purchase - a rare foreign bid for a Japanese firm - would have combined the No.1 and No. 3 makers of the equipment that makes semiconductor chips into a group with a stock market value of more than $38.5 billion.

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