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Fly News Breaks for May 16, 2016
KLAC, LRCX
May 16, 2016 | 07:10 EDT
After the Department of Justice requested additional information regarding Lam's (LRCX) proposed acquisition of KLA-Tencor (KLAC), RBC Capital says, after speaking with Lam, that it expects the deal to close by the September quarter. DOJ's request "is more centered around customer letters," and "there is no technology overlap" between Lam and KLA Tencor, according to RBC, which keeps an Outperform rating on Lam.
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