35.11 -0.08 (-0.24%)
After hours: 4:28PM EDT
|Bid||35.17 x 1400|
|Ask||35.18 x 900|
|Day's Range||34.91 - 35.39|
|52 Week Range||23.39 - 40.36|
|Beta (3Y Monthly)||1.44|
|PE Ratio (TTM)||20.82|
|Earnings Date||Apr 24, 2019 - Apr 29, 2019|
|Forward Dividend & Yield||0.28 (0.79%)|
|1y Target Est||41.71|
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.
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.
United States based Versum Materials on Thursday unveiled a plan to prevent a hostile takeover in the face of an unsolicited $5.9 billion offer from Germany's Merck. Merck on Wednesday said it would pay $48 per Versum share in an all-cash offer designed to scotch a separate $4 billion all-stock takeover from U.S. rival Entegris.
German pharmaceutical and chemical company Merck KGaA says it wants to buy Versum Materials Inc. for more than $5 billion, potentially scuttling a pending merger Versum has with another company. Merck said it has proposed acquiring Versum for $48 a share in cash, making the equity value of the deal about $5.24 billion. Shares of Versum, a Tempe, Ariz., company that provides materials used in manufacturing semiconductors and to make other electronics, closed Tuesday at $41.40 a share, meaning Merck’s offer represents a 16% premium.
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.
German drugs and lab supplies maker Merck KGaA offered $5.9 billion, including debt, for Versum Materials, in a cash deal that tops an offer from U.S. rival Entegris, as both seek to boost their electrochemicals operations. Shares in electronic materials maker Versum soared 18.7 percent to close at $49.13 on Wednesday, while shares in Merck lost 4.2 percent and Entegris fell 2.7 percent. Merck said it planned to buy Versum for $48 per share - or $5.2 billion excluding debt - for a premium of 16 percent to Tuesday's closing price and of 52 percent to the share price before Entegris' offer.
“The all-stock merger of equals of Entegris and Versum Materials will create a premier specialty materials company for the semiconductor and other high-tech industries and will be able to deliver meaningful value to Versum Materials and Entegris stockholders,” said Bertrand Loy, President and CEO of Entegris. Morgan Stanley & Co. LLC is serving as exclusive financial advisor to Entegris and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.
Merck KGaA is trying to break up a merger between Entegris and Versum Materials by offering $48 per share for Versum on Wednesday. The new bid highlights the value of both franchises.