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Actionable news in KLAC: KLA-Tencor Corporation,

Why KLA-Tencor (KLAC) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of KLA-Tencor (KLAC) were falling 8.64% to $70.71 on heavy trading volume early Wednesday afternoon after warning that it may take longer than anticipated to receive regulatory approval for its proposed merger with Lam Research (LRCX).

Lam Research stock was trading lower this afternoon as well.

The companies are "working diligently" to gain regulatory approvals for Lam's $11 billion purchase of KLA, but are unlikely to obtain regulatory clearances before the planned October 20 closing date, according to a joint statement.

They continue to discuss the transaction with the U.S. Department of Justice and...