Germany's Merck Makes $5.24 Billion Offer for Versum Materials --Update
27 Febbraio 2019 - 3:20PM
Dow Jones News
By Micah Maidenberg
German pharmaceutical and chemical company Merck KGaA says it
wants to buy Versum Materials Inc. for more than $5 billion,
potentially scuttling a pending merger Versum has with another
company.
Merck said it has proposed acquiring Versum for $48 a share in
cash, making the equity value of the deal about $5.24 billion.
Shares of Versum, a Tempe, Ariz.-based company that provides
materials used in manufacturing semiconductors and to make other
electronics, closed Tuesday at $41.40 a share, meaning Merck's
offer represents a 16% premium. A spokesman for Merck didn't
immediately respond to a call.
Last month, Versum announced its own merger deal, saying it
plans to combine with Entegris Inc. That deal would result in
Versum shareholders owning a 47.5% stake in the combined
company.
A spokeswoman for Versum didn't immediately respond to a request
for comment.
Versum said in a recent securities filing it would be required
to pay $140 million if its merger with Entegris isn't
completed.
Shares of Entegris dropped 4.3% in premarket trading. The
company develops and supplies specialty materials for the
electronics industry and is based outside of Boston.
A representative for Entegris couldn't immediately be
reached.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
February 27, 2019 09:05 ET (14:05 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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