|Bid||34.92 x 1400|
|Ask||34.94 x 800|
|Day's Range||34.84 - 35.21|
|52 Week Range||23.39 - 40.36|
|Beta (3Y Monthly)||1.44|
|PE Ratio (TTM)||20.69|
|Earnings Date||Apr 24, 2019 - Apr 29, 2019|
|Forward Dividend & Yield||0.28 (0.81%)|
|1y Target Est||41.71|
German pharma group Merck KGaA launched a hostile $5.9 billion all-cash takeover offer for Versum Materials on Tuesday to boost its presence in the semiconductor materials market and sideline a rival bidder. Versum, the former specialty chemicals division of industrial gases group Air Products, has been opposed to Merck's unsolicited cash offer since it was first proposed last month, saying it was committed to an all-share merger with U.S. rival Entegris agreed in January. Merck kept its offer price unchanged at $48 per share on Tuesday.
Merck KGaA is trying to break up Versum’s planned merger with Entegris. It’s a bold step, but it isn't clear if Merck KGaA will be successful. Strangely enough, the $48 tender price is still below where Versum stock trades today.
German healthcare and life sciences company Merck has ramped up its efforts to torpedo the $4.5bn takeover of US chemicals group Versum Materials by Entegris, as it bypassed management and offered to buy shares of the company directly from stockholders. The German group met Versum shareholders earlier this month and “received generally positive feedback” on its bid for the company, which topped the offer Versum agreed with Entegris, according to a person with knowledge of the investor meeting.
Judgement Awards Damages of $32.6 Million and the Recall and Destruction of Infringing Product
Versum Materials and Massachusetts-based Entegris have set April 26 as the date for stockholder meetings to vote on the companies' $9 billion proposed merger.
FRANKFURT (Reuters) - Merck KGaA on Tuesday reiterated its recommendation to shareholders of its takeover target Versum to reject the electronic materials maker's planned merger with peer Entegris. In ...
Entegris Inc NASDAQ/NGS:ENTGView full report here! Summary * Bearish sentiment is moderate and declining * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is moderate for ENTG with between 5 and 10% of shares outstanding currently on loan. However, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on March 8. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold ENTG had net inflows of $2.23 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is weak relative to the trend shown over the past year, but is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Versum said in January it was merging with Entegris Inc. in a $9 billion deal that would move the company’s headquarters from Tempe to Entegris’ home in Billerica, Massachusetts. That merger has just passed a key regulatory hurdle.
Entegris, Inc. (ENTG), a leader in specialty chemicals and advanced materials solutions for the microelectronics industry, and Versum Materials, Inc. (VSM), a leading specialty materials supplier to the semiconductor industry, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the previously-announced merger of equals between the two companies. The expiration of the Act’s waiting period occurred at 11:59 p.m. EST on March 8, 2019 and satisfies one of the conditions to closing of the proposed merger, which remains subject to other closing conditions in the Agreement and Plan of Merger, dated as of January 27, 2019, by and among Versum Materials, Inc. and Entegris, Inc.
Entegris and Versum Materials on Friday highlighted additional benefits from their planned all-share merger, while rival bidder Merck KGaA said it had brought in Goldman Sachs to help with its counter offer. Electrochemicals companies Entegris and Versum said in a letter to shareholders they now expect $125 million (95.6 million pounds) in cost benefits, or $50 million more in annual earnings before interest, tax, depreciation and amortisation, more than originally identified. "We are confident the combined company will meet or exceed the newly stated cost synergy goals as well as realise the other benefits of this merger," Versum chairman Seifi Ghasemi and Entegris Chief Executive Bertrand Loy said in the letter.
We are writing to you on behalf of the Versum Materials and Entegris management teams and Boards of Directors regarding the merger of equals between our two companies we announced on January 28, 2019. The Entegris-Versum transaction is a true, all-stock, remain-invested, merger of equals that has tremendous upside value-creation potential.
German drugs and lab supplies group Merck KGaA has brought in Goldman Sachs as additional advisor for its unsolicited bid for Versum Materials as it seeks to break up the U.S. company's agreed merger with a rival suitor. "Goldman Sachs is acting as our advisor alongside Guggenheim and Sullivan Cromwell," a Merck spokesman said on Friday. Goldman Sachs declined to comment.
NEW ORLEANS , March 7, 2019 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale ...
German drugs and lab supplies group Merck KGaA is encouraged by the market reaction to its unsolicited bid for Versum, as it seeks to break up the U.S. company's agreed merger with a rival suitor, Merck said on Thursday. In an open letter on Tuesday, Merck called on Versum's shareholders to put pressure on management to consider the German group's $5.9 billion (4.5 billion pounds) cash bid, including debt, which the U.S. maker of chemicals for semiconductors has spurned in favour of an all-share merger with Entegris . "We have received renewed encouragement from the capital market for our proposal, following our open letter to Versum shareholders," Merck Chief Executive Stefan Oschmann said at a press conference, reaffirming that his bid was clearly superior.
Germany's Merck KGaA on Tuesday called on shareholders of Versum Materials to put pressure on the electronic materials maker's management to consider its jilted takeover proposal over a rival offer. Versum, the former specialty chemicals division of industrial gases group Air Products, on Friday rejected Merck's unsolicited cash offer worth $5.9 billion.
Germany's Merck KGaA called on Versum Materials Inc's shareholders to put pressure on the electronic materials maker's management to consider its jilted takeover offer. Versum on Friday rejected the $5.9 billion unsolicited cash offer that Merck had made to its management. Versum said it was committed to an agreed merger with U.S. rival Entegris.
It has been an exciting week for Versum, Entegris and Germany’s Merck KGaA. Entegris and Versum are merging, and on Friday, Versum rejected a competing offer from Merck.
Both Merck and Entegris are looking to boost their electrochemicals businesses at a time when the industry is under pressure. German drugs and lab supplies maker Merck said on Wednesday it would pay $48 per Versum share - or $5.9 billion in total including debt - in a takeover proposal to the U.S. group's management. At Entegris' current share price, that deal would translate into a value per Versum share of about $40.
Versum said its board consulted with its independent financial and legal advisers and concluded that Merck’s $48-a-share bid isn’t a superior proposal. Merck on Wednesday proposed to buy Versum for about $5.2 billion in cash, offering a 16% premium to Tuesday’s closing price and a nearly 52% premium to Versum’s price before the Entegris deal was announced.