Entegris, Versum Materials To Merge - Quick Facts

(RTTNews) - Entegris, Inc. (ENTG) and Versum Materials, Inc. (VSM) announced that they have agreed to combine in a merger of equals. The combined company will be a specialty materials company for the semiconductor and other high-tech industries. Versum Materials stockholders will receive 1.120 shares of Entegris for each existing Versum Materials share. Upon completion, Entegris stockholders will own 52.5 percent and Versum Materials stockholders will own 47.5 percent of the combined company.

The combined company will have a pro forma enterprise value of approximately $9 billion, and approximately $3 billion in revenue and approximately $1 billion in adjusted EBITDA on a pro forma basis for calendar year 2018. The transaction is expected to close in the second half of 2019.

Upon closing of the transaction, Entegris CEO Bertrand Loy will serve as Chief Executive Officer, Entegris CFO Greg Graves will serve as Chief Financial Officer, and Versum Materials General Counsel Michael Valente will serve as General Counsel of the combined company.

The combination is expected to generate more than $75 million of annual cost synergies in manufacturing, logistics, procurement and SG&A rationalization within 12 months post close.