SVG to Acquire Watkins- &nJohnson's SEG
Staff -- Semiconductor International, 6/1/1999
Silicon
Valley Group Inc. (SVG, San Jose, Calif.) signed a definitive agreement to purchase
the Semiconductor Equipment Group (SEG) from Watkins-Johnson. Pending the completion
of The Hart-Scott-Rodino review, SVG will make a preliminary payment to Watkins-Johnson
of ~$6M and assume liabilities of ~$40M. The transaction includes the purchase
of SEG's facility in Kawasaki City, Japan and assumption of financing obligations
with those facilities. Additionally, SVG is finalizing an arrangement for rental
of Watkins-Johnson's Scotts Valley, Calif. property from a third party. 
