MKSI - Atotech/MKS Instruments deal spread narrows on report on China review

The deal spread in MKS Instrument's (NASDAQ:MKSI) planned purchase of Atotech (NYSE:ATC) narrowed on a report about potential progress in China's antitrust review of the deal. The companies are said to be in settlement talks with third parties in the country, according to traders, who cited a report that was circulated around desks. There appears to be a higher chance of China approval than before. The deal spread narrowed to $2.40 from $2.99 on Thursday. Atotech shares rose 3.8%, while MKSI gained 2.3%. The latest update comes after Dealreporter earlier this month reported that MKS Instruments (MKSI) is said to be not close to an agreement with China's antitrust regulators on a remedy for Atotech (ATC) deal. Early last month the companies agreed to extend the walk date for the transaction to Sept. 30 day to allow additional time for the regulatory approval by SAMR. MKSI Instruments (MKSI) CEO John Lee said late last month

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Atotech/MKS Instruments deal spread narrows on report on China review