Orbotech +4.8% on Chinese merger approval

After a regulatory review that

started

last July, Chinese antitrust regulators

approve

KLA-Tencor's (NASDAQ:

KLAC

) acquisition of Orbotech (NASDAQ:

ORBK

).

The approval needed to happen before the March 18 termination deadline.

The companies expect to close the $3.4B merger tomorrow.

KLAC shares are 

 pre-market while ORBK gains

.