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Versum Materials, Inc. -- Moody's says Versum's ratings are currently not impacted by acquisition offer from Merck

Moody's Investors Service ("Moody's") commented that Versum Materials, Inc.'s ("Versum") ratings (Ba2, under review for upgrade) are currently not impacted by the announcement that Merck KGaA ("Merck") (Baa1 stable) has made an unsolicited offer to acquire Versum in an all-cash deal for $48 per share, a 15.9% premium over Versum's closing price yesterday, in a transaction valued at E5.3 billion (approximately $5.9 billion) including Versum Materials' net debt. Merck has indicated that it would use cash and debt to finance the transaction, though there were no further details provided.