Merck KGaA: Versum to review unsolicited bid
(CercleFinance.com) - Versum's board of directors will review Merck's unsolicited tender offer to acquire all outstanding shares for 48 dollars each in cash, the company said on Wednesday.
The Versum board will "carefully" review the German group's offer to determine the course of action that it believes is in its shareholders' best interest.
However, Merck's offer is at the same price as the proposal made by Merck on 27 February, which Versum's board unanimously rejected on 1 March, Versum noted.
Versum - which supplies products and equipment for semiconductor manufacturing - said it maintains its recommendation in support of the pending all-share merger of equals with Entegris.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Versum board will "carefully" review the German group's offer to determine the course of action that it believes is in its shareholders' best interest.
However, Merck's offer is at the same price as the proposal made by Merck on 27 February, which Versum's board unanimously rejected on 1 March, Versum noted.
Versum - which supplies products and equipment for semiconductor manufacturing - said it maintains its recommendation in support of the pending all-share merger of equals with Entegris.
Copyright (c) 2019 CercleFinance.com. All rights reserved.