Merck has won the takeover battle of electronic materials company Versum Materials, Inc. with a reported $6.4bn offer.
Germany-based Merck’s offer scuppers a deal agreed earlier this year between US-based companies Versum and Entegris.
Versum Materials, a specialty materials company providing high-purity chemicals and gases, has confirmed it has received a revised proposal from Germany-based Merck KGaA to acquire Versum for $53 per share, and that Versum’s Board of Directors, in consultation with its legal and financial advisors, has unanimously determined that this proposal constitutes a “Superior Proposal” as defined in Versum’s previously announced merger agreement with Entegris, Inc.
It was reported in January that Versum Materials had agreed to combine with chemicals group Entegris in a $9bn merger of equals to create a “premier specialty materials company” for the semiconductor and other high-tech industries.
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