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1/28, 12:56 PM (Source: TeleTrader)
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Entegris to buy Versum, create $9B company

Massachusetts-based chemical company Entegris Inc. said on Monday it reached a deal to acquire Arizona-based Versum Materials and create a specialty materials company for the semiconductor industry company worth $9 billion, based on closing prices from last Friday. Ownership of the new firm, which will also be named Entegris, will be split into 52.5% belonging to Entergris and the rest belonging to Versum.

According to the deal, Versum stockholders will receive 1.120 shares of Entegris for each Versum share they hold.

"The combined company will be ideally positioned to more effectively help our customers achieve higher yields and new levels of performance and reliability, and together, we will be well positioned to take advantage of long-term secular semiconductor growth, and to tackle new industry process challenges," said Entegris' President and Chief Executive Officer Bertrand Loy.

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