Santa Clara, CA--November 26, 1996--Applied Materials Inc. (Santa Clara, CA) announced that Orion Corp. I, its wholly-owned subsidiary, has commenced a cash tender offer for all outstanding shares of common stock of Opal Inc. at $18.50 per share.
The offer is being made pursuant to the previously announced merger agreement between Applied Materials and Opal. The offer is conditioned upon, among other things, the tender of a majority of the shares outstanding on a fully diluted basis. The offer and withdrawal rights are scheduled to expire at 12:00 midnight on Tuesday, Dec. 24, 1996. Morgan Stanley & Co. Inc. is acting as the Dealer Manager in connection with the offer and Georgeson & Company Inc. is acting as the Information Agent in connection with the offer.
Santa Clara, CA
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