KLA-Tencor +5% after closing Orbotech acquisition

KLA-Tencor (NASDAQ:

KLAC

)

completes

its acquisition of Orbotech (NASDAQ:

ORBK

).

Orbotech shareholders received $38.86 per share in cash and 0.25 of a KLAC common stock share for a total consideration of $65.93 per share based on KLAC's closing price yesterday.

As previously announced and in conjunction with the closing the KLA-Tencor board authorizes an additional $1B share repurchase program.

KLAC shares are 

 to $113.19.