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Share Name Share Symbol Market Type
Merck Kgaa (PC) USOTC:MKKGY Other OTC Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -$0.30 -1.40% $21.14 $21.01 $21.19 $21.332 $21.037 $21.295 13,838 21:59:48

Merck KGaA Begins Tender Offer for Versum

26/03/2019 11:31am

Dow Jones News


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   By Donato Paolo Mancini 
 

Merck KGaA (MRK.XE) has begun a hostile takeover offer of Versum Materials Inc. (VSM), in a move that would scuttle a pending deal with Entegris Inc. (ENTG).

The German company said it had begun a cash tender offer to acquire all outstanding shares of Versum at $48 per share. An approach by Merck KGaA was announced in February.

In addition, Merck said it has filed definitive proxy materials with the U.S. Securities and Exchange Commission in connection with its solicitation against the Entegris acquisition of Versum, which was first announced in January.

Merck KGaA traded 1% higher at 1057GMT, while shares in Versum closed at $49.67 on Monday, higher than the offer per share from Merck KGaA.

 

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com; @donatopmancini

 

(END) Dow Jones Newswires

March 26, 2019 07:16 ET (11:16 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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