Versum Materials, Inc.’s shareholders have approved the company’s acquisition by Merck KGaA for $53 per share in cash.
Tempe, Arizona-based Versum, a specialty materials and equipment supplier to the semiconductor industry, expects the transaction, which is subject to regulatory clearances and the satisfaction of other customary closing conditions, to close in the second half of 2019.
In April, Germany-based Merck signed a definitive agreement to acquire Versum in a deal worth a reported $5.78bn, after Versum had agreed to combine with US company Entegris in January.
“We are pleased that Versum stockholders have voted in favour of us moving forward with this transaction. With complementary portfolios Versum and our Performance Materials business will create a leading electronic materials player capable of capitalising on attractive long-term secular growth drivers so as to provide long-term benefits for our customers, employees and owners,” said Stefan Oschmann, Chairman of the Executive Board and CEO of Merck.
Versum has annual sales of approximately $1.4bn, 2,300 employees and operates 14 major facilities in Asia and North America.
Science and technology company Merck, which has its headquarters in Germany, operates across healthcare, life science and performance materials. Merck has more than 10,000 employees, with its US headquarters located in Kenilworth in New Jersey, with other locations elsewhere including Massachusetts (2,900 employees).