Mykrolis (NYSE:MYK)
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New CEO Argov Says Merger Will Nearly Double Company Size
Entegris, Inc. (NASDAQ:ENTG), and Mykrolis Corporation (NYSE:MYK)
today announced that their respective stockholders approved the
proposed merger between the two companies at stockholder meetings
conducted today. Approximately 81 percent of the outstanding Entegris
shares were represented at the meeting, and approximately 99 percent
of the shares voted on the merger proposal were cast in favor.
Mykrolis shareholders showed similar support with approximately 99
percent of the shares voted on the merger proposal cast in favor of
the merger.
According to the terms of the merger agreement, each share of
Mykrolis common stock will be exchanged for 1.39 shares of Entegris
common stock on the closing of the merger, which is expected to occur
on August 6, 2005.
Gideon Argov, the current Mykrolis CEO, will become the CEO of the
combined company. According to Argov, the merger creates the largest
global materials integrity management company today, with combined
sales of approximately $650 million for the trailing twelve months.
The company will focus on products and services that purify, protect,
and transport critical materials used in semiconductor and other high
technology industries.
"This merger combines two strong, successful companies into one of
the most recognized and respected suppliers to the global
semiconductor industry today," said Argov. "We are excited to launch
the new Entegris so that the opportunities created by this merger can
be realized for customers, partners, shareholders and employees."
The combined company will be named Entegris, although the Mykrolis
brand will be retained for certain products. This plays on the
strengths of both companies in serving multiple markets worldwide.
Current Entegris CEO Jim Dauwalter, will become the non-executive
chairman of the board for Entegris. "Each company has successfully
established very significant market presence, and the union of our two
companies will make Entegris even stronger, from Japan and Asia
Pacific, to the United States and Europe," said Dauwalter. "I am
confident that Gideon, his leadership team and our dedicated employees
will take Entegris to an exciting, growth-oriented future."
ABOUT THE NEW ENTEGRIS
Upon the completion of the merger, Entegris will be the global
leader in materials integrity management - purifying, protecting and
transporting critical materials used in high technology products,
processes and services. Entegris provides products and services used
in semiconductor and other high-technology industries. Entegris is ISO
9001 certified and has manufacturing, service or research facilities
in the United States, China, France, Germany, Japan, Malaysia,
Singapore, South Korea and Taiwan. Additional information can be found
at www.entegris.com.