ATC - MKS Instruments to buy Atotech for $16.20 in cash plus stock deal

syahrir maulana/iStock via Getty Images MKS Instruments (MKSI) and Atotech (ATC) up 3.80% premarket after entering into a definitive agreement, pursuant to which MKS will acquire Atotech for $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech common share. The equity value of the transaction is $5.1B and the enterprise value of the transaction is ~$6.5B, aims to combine capabilities in lasers, optics, motion and process chemistry to enable next-generation advanced electronics. The transaction will result in pro forma annual revenue of $3.8B and is expected to be accretive to MKS' Non-GAAP net earnings per share within the first year and additive to MKS' free cash flow and expects to realize $50M in annualized cost synergies within 18 to 36 months. MKS intends to fund the cash portion of the transaction with a combination of available cash on hand and committed debt financing. The combined company is expected

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MKS Instruments to buy Atotech for $16.20 in cash plus stock deal