Deals
U.S. Chip Firm Versum Accepts Higher $5.8 Billion Takeover Bid by Germany’s Merck
- Merck raises offer to $53 a share from $48 a share in February
- Entegris declines to revise bid after Versum kept door open
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Versum Materials Inc. moved to accept Merck KGaA’s offer to buy the U.S. semiconductor-components maker after the German company raised its bid, trumping a planned merger with Entegris Inc.
Merck proposed $53 a share, Versum said in a statement Monday, up about 10 percent from the original bid it made on Feb. 27. Versum said the offer, valuing the target’s equity at $5.8 billion, is superior to the $3.8 billion deal with Entegris, which said it doesn’t plan to revise its bid.