ATMI To Sell LifeSciences Business To Pall Corp. For $185 Mln - Quick Facts

(RTTNews) - ATMI, Inc. (ATMI), a supplier of high performance materials, materials packaging and materials delivery systems for the manufacture of microelectronics devices, Monday said it agreed to sell ATMI LifeSciences to filtration products maker, Pall Corporation (PLL), for $185 million.

The deal includes all assets in conjunction with the LifeSciences business, including two locations in Belgium plus a shared facility in Minnesota. The transaction is expected to close during 2014 first-quarter, with after tax cash proceeds of about $165 million.

Barclays Capital is acting as financial advisor and Weil, Gotshal & Manges LLP is acting as legal advisor to ATMI with regard to the transaction.

"The combination of ATMI LifeSciences and Pall will provide leading technology to serve the bioprocessing industry," said Senior Vice President and General Manager of ATMI LifeSciences.