Merck KGaA, Darmstadt, Germany, announced on Monday that it has completed the announced transaction with Versum Materials, Inc., a leading materials supplier to the semiconductor industry. Merck expects Versum to contribute around 270 million euros ($296.76 million) to group revenues by the end of the year. In April, Merck sealed a $6.5 billion takeover deal … Read more
Merck KGaA won Versum board’s support for a $ 6.5 billion sweetened takeover offer, reversing an agreed merger with rival Entegris. “This proposal constitutes a ‘Superior Proposal’ as defined in Versum’s previously announced merger agreement with Entegris, Inc.,” Versum said in a statement on Monday. After reviewing business data and following meetings between Merck KGaA Chief … Read more
Versum Materials announced the filing of an investor presentation with the SEC and that the Versum Board of Directors sent a letter to Versum shareholders regarding the previously announced definitive merger agreement with Entegris, urging shareholders to vote the WHITE proxy card “FOR” the merger agreement with Entegris at the Special Meeting of Stockholders on … Read more
On Tuesday, Merck KGaA launched a hostile $5.9 billion all-cash takeover bid for Versum Materials to boost its presence on the market for semiconductor materials and sideline the bid of Entegris. Since it was first proposed last month, Versum opposed Merck’s unsolicited cash offer, saying it was committed to an all-share merger with U.S. rival … Read more
Merck KgaA filed with the U.S. Securities and Exchange Commission (SEC) a preliminary proxy statement on Tuesday urging all Versum shareholders to vote against the merger with the rival Entegris. Merck has reiterated in the statement that “it is convinced that the proposed Entegris transaction is not the best option available to the Versum shareholders, … Read more
On Tuesday, Germany’s Merck KGaA called on Versum Materials shareholders to put pressure on the management of the electronic materials manufacturer to consider their takeover bid over a rival Entegris’ bid. Versum rejected Merck’s unsolicited $5.9 billion cash offer on Friday. The proposal made to the management was non-binding and has not been submitted to … Read more
Versum Materials (VSM) announced that its Board of Directors rejected Merck KGaA’s unsolicited and non – binding proposal to acquire Versum at $ 48 per share in cash received on February 27, 2019. “After careful review and consideration, conducted in consultation with its independent financial and legal advisors, the Versum Board concluded that Merck KGaA’s … Read more
Germany’s Merck KGaA has announced a counter bid to acquire Versum Materials for $5.9 billion in cash against U.S. rival Entegris’ $4 billion offer. The company said it planned to buy Versum for $48 per share ($5.2 billion excluding debt), a 51.7% premium to Versum’s undisturbed share price, on January 25, 2019, the day prior … Read more