Germany's Merck KGaA sealed a $6.5 billion takeover deal with Versum Materi...
FRANKFURT - Germany’s Merck KGaA sealed a $6.5 billion takeover deal with Versum Materials after overturning a deal it had agreed with rival bidder Entegris.
A bet on a recovery in electronic materials markets for semiconductor makers, the transaction will boost the share of profit that diversified Merck derives from high-tech chemicals to 27 percent from 19 percent previously. “The business combination is expected to significantly strengthen Merck’s Performance Materials business sector, creating a leading electronic materials player focused on the semiconductor and display industries,” it said in a statement.
The deal will increase earnings per share in the third full year after closing, while the increase will be immediate when adjusted for one-off items, it added.
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