Entegris Receives Final Regulatory Clearance for USD 6.5bn Acquisition of CMC Materials.
MANews-(C)2009-2022
China's State Administration for Market Regulation has given antitrust clearance for US-based advanced materials and process solutions supplier Entegris, Inc's (NASDAQ: ENTG) pending acquisition of US-based electronic materials supplier CMC Materials, Inc. (NASDAQ: CCMP), the company said.
The transaction has now received all required regulatory clearances.
Entegris and CMC Materials anticipate that the transaction will close on or about July 6, 2022, subject to the satisfaction of the remaining customary closing conditions.
The parties announced their agreement for Entegris to acquire CMC Materials in a cash and stock transaction on December 15, 2021.
The deal has an enterprise value of approximately USD 6.5bn.
CMC Materials is a supplier of advanced materials primarily for the semiconductor industry.
Under the terms of the agreement, CMC Materials shareholders will receive USD 133.00 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 December 14, 2021, and a 38% premium to the 10-day volume weighted average share price.
Upon completion of the transaction, Entegris...
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