Varian Merger with Applied Materials Receives Go Signal

Varian Semiconductor Equipment Associates Inc. has achieved a significant milestone in its proposed merger with Applied Materials Inc. During a special stockholders meeting, Varian stockholders voted to approve the merger. Gary Dickerson, Chief Executive Officer of Varian Semiconductor, said, "Gaining shareholder approval is a significant step in the process to combine the strengths of both companies and enhance our innovation, customer focus, operational excellence and talent so that we are better positioned to reach our goals."

The merger was approved by holders of approximately 52.8 million shares of Varian's outstanding common stock, and approximately 237,000 shares voted against the merger. This represents over 99 percent of the shares present in person or represented by proxy at the special meeting voting in favor of the merger.

Varian continues to expect that the merger will be completed during the second half of 2011. The closing of the merger is subject to the satisfaction or waiver of certain other closing conditions, including, without limitation, the approval of the U.S. Department of Justice under the Hart Scott Rodino Act.

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