Skadden is advising Axcelis Technologies, Inc., a provider of equipment and services to the semiconductor manufacturing industry, in connection with its definitive agreement to combine with Veeco Instruments Inc., a manufacturer of semiconductor process equipment, in an all-stock merger. The combined company is expected to have an enterprise value of approximately $4.4 billion based on Axcelis' and Veeco's closing share prices as of September 30, 2025, and outstanding debt as of June 30, 2025. The transaction is expected to close in the second half of 2026, subject to approval by shareholders of both companies, the receipt of required regulatory approvals and the satisfaction of other customary closing conditions.
The Skadden team includes Maxim Mayer-Cesiano, Page Griffin, Andrew Foster, Ingrid Vandenborre and David Wales.