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FTC clears Veeco Instruments’ $815M buy of Ultratech

The Federal Trade Commission has cleared Veeco Instruments

The Federal Trade Commission has cleared Veeco Instruments Inc.'s $815 million cash and stock deal for a San Jose, Calif., maker of equipment used to make semiconductor devices, the companies announced Tuesday. This is a photo of workers at Veeco on Feb. 23, 2012. Photo Credit: Chris Ware

The Federal Trade Commission has cleared Veeco Instruments Inc.’s $815 million cash and stock deal for a San Jose, California, maker of equipment used to make semiconductor devices, the companies announced Tuesday.

The FTC granted Veeco’s acquisition of Ultratech Inc. “early termination” of a waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

The deal, which also is subject to approval by shareholders, is expected to close in the second quarter of 2017. Veeco, based in Plainview, makes equipment used to manufacture LEDs, hard disk drives and TV and computer displays.

Shares of Veeco gained 2.5 percent to close Tuesday at $28.25. Shares of Ultratech added 1 percent to $29.04. Both trade on the Nasdaq Stock Market.

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