Versum Materials Reaffirms Commitment To Complete Merger With Entegris

(RTTNews) - The Board of Versum Materials, Inc. (VSM) reiterated its decision to reject Merck KGaA's $48 per share proposal, and reaffirmed the company's commitment to completing the proposed merger of equals transaction with Entegris, Inc. (ENTG). The transaction remains on track to close in the second half of 2019, subject to the satisfaction of customary closing conditions, including receipt of U.S. and international regulatory approvals, and approval by the stockholders of each company.

"The Versum Board of Directors stands by its analysis that Merck's unsolicited proposal for Versum is not a Superior Proposal. We believe Merck's commentary regarding its proposal is misleading, mischaracterizes our independent financial analysis, and confuses an all-stock merger of equals with a change in control transaction," said Seifi Ghasemi, Chairman of the Versum Board of Directors.