Germany: Merck to buy Versum for US$6.56B

Merck announced Friday, April 12, it has signed a definitive agreement to acquire Versum Materials in a deal with an enterprise value of US$6.6 billion, according to a MarketWatch news release.

Merck will pay US$53 per Versum share in cash, the company said in a statement. Versum’s board has terminated its merger agreement with Entegris on the grounds that the Merck offer is superior.

The deal will be financed with cash on hand and debt via a facilities agreement with Bank of America Merrill Lynch, BNP Paribas Fortis, and Deutsche Bank.

The company initiated a hostile takeover after Versum initially stated it wasn’t interested in a deal. Shares in Versum have consistently traded above US$48, signaling that investors were expecting a higher price.

Full Content: Wall Street Journal

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