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US: Entegris to buy Versum in $4bn deal

 |  January 28, 2019

On Monday, January 28, chemicals group Entegris unveiled plans to buy Versum Materials in an all-stock deal worth just over US$4 billion, reported the Wall Street Journal. The combined company will be the first to provide products covering the entire semiconductor manufacturing process, the groups said. It will be headed by Entegris CEO Bertrand Loy and will retain the Entegris name.

The deal, which the pair described as a “merger of equals,”  will see Versum shareholders receive 1.120 shares in Entegris for each Versum share held. Entegris shareholders will own 52.5% of the combined company, while Versum will own 47.5%.

“We are excited to combine with Versum Materials to create a premier speciality materials company for the semiconductor and other high-tech industries,” said Mr Loy, quoted The Financial Times.

He added that the new group would be “well positioned to take advantage of long-term secular semiconductor growth, and to tackle new industry process challenges.”

Full Content: Wall Street Journal

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