The German pharmaceutical and speciality chemicals group Merck maintains its takeover bid for the American supplier of electronic materials Versum Materials. The Germans write this in a letter to the shareholders of the American company. Versum rejected Merck’s unsolicited bid and wants to continue a merger with Entegris.
Versum took measures after the bid to make a takeover by Merck more difficult. According to the Germans this does not testify to “the desire to maximize the value for its shareholder”.
According to Merck, his bid of 5.9 billion dollars is better than that of Entegris. For example, no integration between two companies is necessary with the acquisition by Merck and there is less market risk. Merck wants to turn the headquarters of Versum in the Phoenix area into the combined North American epicenter for its electronic materials business.