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Entegris to Acquire CMC Materials in $6.5B Deal -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — CMC Materials shares jumped 27% Wednesday on news the company will be acquired by advanced materials supplier Entegris (NASDAQ:) in a deal worth around $6.5 billion

Entegris shares fell 5%.

This deal includes stock and cash. CMC Materials shareholders receive $133 cash plus 0.4506 shares Entegris common stocks for every CMC Materials share. CMC Materials’ closing price of Dec. 14 was 35% higher than this amount and Entegris shares are 0.4506 shares.

Bertrand Loy, president and CEO of Entegris, said: “Acquiring CMC Materials will further differentiate our unit-driven platform and advance our ability to provide a broad range of process solutions for our customers, at a faster time-to-solution. The highly complementary combined portfolio creates the industry’s most comprehensive and innovative end-to-end electronic materials offering, as well as significantly expands our growing served market and content per wafer opportunity.”

Entegris shareholders, who are likely to close in the second-half of 2022 will hold approximately 91% and CMC Materials shareholders around 9% of the combined company.

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