Applied Materials Inc., the largest chipmaking equipment supplier, agreed to acquire Tokyo Electron Ltd. for $9.39 billion in stock in the largest deal for a Japanese company from outside the country in six years.

Gary Dickerson, who just became chief executive officer of Applied Materials on Sept. 1, will be CEO of the combined company, according to a statement from the Santa Clara, California-based firm and Tokyo Electron today. Applied Materials shareholders will own 68 percent of the new entity.

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