MKS and Atotech deal receive China antitrust clearance
MKS Instruments and Atotech have received unconditional merger approval from China’s State Administration for Market Regulation for MKS’ pending acquisition of Atotech.
This latest approval means that the transaction has now received all required regulatory clearances.
“We are pleased to have met all necessary regulatory conditions required to complete the acquisition of Atotech,” said John T.C. Lee, President and CEO of MKS, in a press release. “We look forward to being able to offer a comprehensive portfolio of capabilities in lasers, optics, motion and process chemistry to drive faster, better solutions and innovations for customers in advanced electronics.”
back in July 1, 2021, MKS entered into a definitive agreement with Atotech to acquire the company for USD 16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech ordinary share. At the time of the announcement, the equity value of the transaction was approximately USD 5.1 billion and the enterprise value of the transaction was approximately USD 6.5 billion.
The acquisition is anticipated to close on August 17, 2022, subject to obtaining the required sanction by the Royal Court of Jersey and the satisfaction of customary closing conditions. Ordinary shares of Atotech will be de-listed from The New York Stock Exchange in connection with the closing.
