Versum Materials’ Receives Unsolicited Tender Offer from Merck KGaA

The Merck tender offer is at the same price per share as the proposal made by Merck on February 27, 2019, which the Versum Board of Directors unanimously rejected on March 1, 2019. A press release issued by Versum said the company's Board of Directors will carefully review Merck’s offer to determine the best course of action for Versum and its stockholders. The release urged Versum stockholders to take no action until the Board’s review of the offer is completed no more than ten days from the announcement, or April 9. The Versum Board of Directors has not changed its recommendation in support of the pending all-stock merger of equals with Entegris, Inc. That deal, announced in January, creates a pro forma enterprise value of approximately USD 9 billion, based on the closing prices of Entegris and Versum Materials on January 25, 2019. That transaction is expected to close in the second half of 2019.