NEW YORK — What may have been the most auspicious deal of late was not the biggest or the most groundbreaking of mergers. It was just one that took a little gumption.
In September, Applied Materials, a California maker of semiconductor manufacturing equipment, agreed to acquire its rival, Tokyo Electron, in a deal valued at more than $9 billion.
As an all-stock, cross-border deal, it was the kind of tricky merger that telegraphed executives’ confidence and an appetite to make even slightly risky deals.
“It was when the light bulb went on,” a senior dealmaker said.
While global dealmaking was basically flat for a fourth consecutive year, annual volume in the United States was up 11 percent in 2013 compared with the previous year, according to Thomson Reuters. Full story for BostonGlobe.com subscribers.