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Entegris Inc to Acquire ATMI Inc


Tuesday, 4 Feb 2014 07:00am EST 

Entegris Inc and ATMI Inc:Says that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which Entegris will acquire ATMI Inc.Says for a total equity value of about $1.15 bln on a fully-diluted basis, or about $850 mln net of cash acquired, including the net cash proceeds from the sale of ATMI's LifeSciences business of $170 mln.Says under the terms of the merger agreement, ATMI shareholders will receive $34.00 in cash, without interest or dividends, for each share of ATMI common stock they hold at the time of closing.Says companies anticipate closing the transaction in the second quarter of 2014.Says price represents a premium of 26.3 percent to ATMI's closing price of $26.93 on Feb. 3, 2014.Entegris expects to fund the all-cash transaction with a combination of existing cash balances and additional committed debt financing, and expects it to be immediately accretive to non-GAAP earnings per share (EPS). 

Company Quote

12.17
-0.01 -0.08%
19 Sep 2014