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By Sam Boughedda
Investing.com — CMC Supplies shares jumped 27% Wednesday on information the corporate will likely be acquired by superior supplies provider Entegris (NASDAQ:) in a deal value round $6.5 billion
Entegris shares fell 5%.
The deal is money plus inventory. CMC (NS:) Supplies shareholders will obtain $133 in money and 0.4506 shares of Entegris widespread inventory for every CMC Supplies share they personal. This represents a 35% premium over CMC’s closing worth on Dec. 14 and a 38% premium to the 10-day volume-weighted common share worth.
Bertrand Loy, president and CEO of Entegris, stated: “Buying CMC Supplies will additional differentiate our unit-driven platform and advance our capacity to offer a broad vary of course of options for our prospects, at a sooner time-to-solution. The extremely complementary mixed portfolio creates the trade’s most complete and revolutionary end-to-end digital supplies providing, in addition to considerably expands our rising served market and content material per wafer alternative.”
As soon as the deal is accomplished, which is anticipated to be within the second half of 2022, Entegris shareholders will personal roughly 91% of the mixed firm, with CMC Supplies shareholders proudly owning round 9%.
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