BE Semiconductor (BESI) Stock Jumps 9% After Applied Materials Plans to Lift Stake to 20%

TLDR BE Semiconductor (BESI) stock rose about 9% Tuesday after Applied Materials (AMAT) said it will raise its stake to about 20% from 9%. AMAT stock gained about 3% on the day. Applied Materials entered an accelerated share purchase agreement for the added Besi shares. Delivery depends on the expiration of the U.S. antitrust waiting period under the Hart-Scott-Rodino Act. Applied Materials says it has no plans to go beyond 20% or seek a Besi board seat. BE Semiconductor Industries (BESI) stock rose more than 8% on Tuesday, trading up about 9% at the time of the report.

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Source: CoinCentral