Versum, Entegris to form chemicals leader

Abstract

Continuing consolidation in the business of supplying high-purity materials to the computer chip industry, Entegris and Versum Materials have agreed to combine in an all-stock “merger of equals” valued at $9 billion. The merged company will have annual sales of about $3 billion and be “the world’s first comprehensive and effective end-to-end materials solutions provider across the entire semiconductor manufacturing process,” the two firms say. With annual sales of about $1.6 billion, Entegris supplies materials, filtration and purification equipment, and fluid management products to the electronics industry.Versum is a maker of deposition materials, specialty gases, and chemical mechanical planarization (CMP) slurries with sales last year of $1.4 billion. It was formed in 2016 when Air Products & Chemicals launched its electronic materials business on the stock market. The combined company, which will take the Entegris name, will be owned 52.5% by Entegris shareholders and 47.5% by Versum shareholders. An...