Executive chairman of Applied Materials – the world's largest chip equipment maker – told CNBC on Wednesday that he was confident that its merger with rival Tokyo Electron would not face any regulatory hurdles.
On Tuesday Applied Materials announced its intention to buy the world's third largest chip equipment maker, in a deal worth $7.06 billion including net debt and excluding cash, according to Reuters data, the firm's largest ever acquisition.
(Read more: Cramer: This merger will not happen)
"We're expecting regulators will look closely at this deal. It is a cross border deal, it is a complex deal, both companies are big companies. But in end we believe, and we're confident it will get approved," said executive chairman Mike Splinter.
A possible hurdle for the deal gaining regulatory approval would be the overlap between the two firms' product lines, but Splinter said he doubted this would be an issue.