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Entegris to acquire CMC Materials
Entegris and CMC Materials have entered into a definitive merger agreement under which Entegris will acquire CMC Materials in a cash and stock transaction with an enterprise value of approximately USD 6.5 billion.
Under the terms of the agreement, CMC Materials shareholders will receive USD 133.00 in cash and 0.4506 shares of Entegris common stock for each EMS Materials share, a press release reads. CMC Materials is a supplier of advanced materials primarily for the semiconductor industry. The addition of CMC Materials’ CMP portfolio will broaden Entegris’ solutions set, creating a comprehensive electronic materials offering. “Acquiring CMC Materials will further differentiate our unit-driven platform and advance our ability to provide a broad range of process solutions for our customers, at a faster time-to-solution. The highly complementary combined portfolio creates the industry’s most comprehensive and innovative end-to-end electronic materials offering, as well as significantly expands our growing served market and content per wafer opportunity. In addition, we believe the acquisition will allow us to unlock significant growth through enhanced innovation, scale and execution. We also expect to utilize our significant cash flows to rapidly reduce leverage. We are confident that as a combined organization, we will be poised to deliver significant value for our customers, colleagues and shareholders,” says Bertrand Loy, President and CEO of Entegris, in the press release, “We are excited to be joining forces with Entegris. The combination provides immediate and substantial value to CMC Materials shareholders and provides meaningful participation in the long-term growth opportunities created by the transaction,” adds David Li, President and CEO of CMC Materials. “CMC Materials and Entegris share highly complementary businesses and capabilities grounded in world-class innovation and customer collaboration. As part of Entegris’ leading platform, we will maintain our strong focus on technology innovation and customer partnerships and provide expanded opportunities for our employees. We look forward to what the combined company can accomplish.” The transaction is expected to close in the second half of 2022.
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