Merck KGaA proxy urges Versum shareholders vote against Entegris deal

Merck KGaA (MKGAY) announced that it filed a preliminary proxy statement with the U.S. Securities and Exchange Commission, urging all Versum (VSM) shareholders to vote “Against” the Entegris (ENTG) acquisition and related proposals at the Versum special meeting of shareholders. Merck KGaA “is convinced that the proposed Entegris transaction is not the best option available to the Versum shareholders, and that its proposal – $48 per share, all cash – is superior to the Entegris acquisition. In addition to the immediate certainty of cash, Merck KGaA, Darmstadt, Germany’s proposal represents a premium of 51.7% to the undisturbed trading price per Versum share on the trading day prior to the announcement of the proposed Entegris transaction and a premium of 15.9% to the value per Versum share at the time of the proposal. Furthermore, the market reaction following the announcement of Merck KGaA, Darmstadt, Germany’s proposal clearly indicates that the investment community views it as superior,” the company stated.
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