Merck To Buy Versum For $53 Per Share - Quick Facts

(RTTNews) - Science and technology company, Merck (MKGAY.PK) has signed a definitive agreement to acquire Versum Materials, Inc. (VSM) for $53 per share in cash. The price reflects an enterprise value for Versum of approximately 5.8 billion euros.

Merck currently expects the acquisition to end in the second half of 2019. The company expects the combination to be immediately accretive to earnings per share pre (EPS pre) and accretive to reported EPS in the third full year after closing. Meck expects 75 million euros in run-rate synergies from the deal by the third full year after closing.

Merck has terminated its prior tender offer to acquire Versum common stock, and the contested solicitation of proxies has also ended. Versum has terminated the merger agreement with Entegris.

Versum is a supplier of high-purity process chemicals, gases and equipment for semiconductor manufacturing. The company has approximately 2,300 employees, and operates 15 manufacturing and seven research and development facilities throughout Asia and North America. Versum Materials had operated for more than three decades as a division of Air Products and Chemicals, Inc. (APD).