German drugs and lab supplies maker Merck KGaA is offering to buy Versum Materia...
FRANKFURT - German drugs and lab supplies maker Merck KGaA is offering to buy Versum Materials in a cash deal valuing the electronic materials maker at $5.9 billion, including debt, topping a rival offer from U.S. group Entegris.
Merck said it planned to buy Versum for $48 per share, a premium of 16 percent to Tuesday’s closing price and of 52 percent to the share price before Entegris’ offer. Merck, which in 2014 bought Britain’s AZ Electronic Materials for 1.9 billion euros, said it was ready to proceed immediately to due diligence and to quickly agree a deal, adding it did not need its own shareholders to approve a transaction.
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