ENTG - Entegris to acquire CMC Materials in a cash and stock transaction worth $6.5B

Entegris (NASDAQ:ENTG) and CMC Materials announced a definitive merger agreement wherein the former will acquire the latter in a cash and stock transaction with an enterprise value of ~$6.5B. Under agreement terms, CMC Materials shareholders will receive $133 in cash and 0.4506 shares of Entegris common stock for each share of CMC Materials common stock they own. The total per share consideration represents a 35% premium over CMC Materials’ closing price on Dec.14 and a 38% premium to the 10-day volume weighted average share price. On transaction completion, Entegris shareholders will own ~91% of the combined company and CMC Materials shareholders will own the remaining. "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," president & CEO Bertrand Loy commented. The expanded portfolio will increase Entegris’ growing served markets in semiconductor applications

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Entegris to acquire CMC Materials in a cash and stock transaction worth $6.5B