Versum Stockholders Approve Acquisition by Merck KGaA, Darmstadt, Germany
Merck KGaA, Darmstadt, Germany, a leading science and technology company, today announced that its transaction with Versum Materials, Inc. (NYSE: VSM) was approved at a special meeting of Versum’s stockholders. On April 12, 2019, Merck KGaA, Darmstadt, Germany, had signed a definitive agreement to acquire Versum for US$53 per share in cash.
“We are pleased that Versum stockholders have voted in favor of us moving forward with this transaction. With complementary portfolios Versum and our Performance Materials business will create a leading electronic materials player capable of capitalizing on attractive long-term secular growth drivers so as to provide long-term benefits for our customers, employees and owners,” said Stefan Oschmann, Chairman of the Executive Board and CEO of Merck KGaA, Darmstadt, Germany.
The transaction is expected to close in the second half of 2019, subject to regulatory clearances and the satisfaction of other customary closing conditions. The applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for U.S. antitrust purposes has expired, and the transaction has been cleared by antitrust authorities in Germany, Austria and Serbia.
Versum is a leading supplier of innovation-driven, high-purity process chemicals, gases and equipment for semiconductor manufacturing. The business combination is expected to benefit the Performance Materials business sector of Merck KGaA, Darmstadt, Germany and thus supports, in terms of volume, the rebalancing of the company’s diversified three-pillar portfolio of Healthcare, Life Science and Performance Materials.
All Merck KGaA, Darmstadt, Germany, press releases are distributed by e-mail at the same time they become available on the EMD Group Website. In case you are a resident of the USA or Canada please go to www.emdgroup.com/subscribe to register for your online subscription of this service as our geo-targeting requires new links in the email. You may later change your selection or discontinue this service.
About Merck KGaA, Darmstadt, Germany
Merck KGaA, Darmstadt, Germany, a long-term oriented, predominantly family-owned leader in science and technology, operates across healthcare, life science and performance materials. Around 52,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. In Merck KGaA, Darmstadt, Germany’s more than 350-year history, people have always been and will continue to be at the center of everything it does. From advancing gene editing technologies and discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2018, Merck KGaA, Darmstadt, Germany, generated sales of € 14.8 billion in 66 countries.
The company holds the global rights to the name and trademark “Merck” internationally. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany, operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Performance Materials. Since its founding 1668, scientific exploration and responsible entrepreneurship have been key to the company’s technological and scientific advances. To this day, the founding family remains the majority owner of the publicly listed company.
Merck KGaA, Darmstadt, Germany, registered the effects of the Covid-19 pandemic in all business sectors in the second quarter. Healthcare and Performance Materials were affected most strongly.