German company Merck completes acquisition of Versum
Merck KGaA of Darmstadt, Germany, a leading science and technology company, Tuesday announced the closing of the transaction to acquire Versum Materials Inc. of Hometown for approximately 5.8 billion euros or $6.399 billion.
The business combination is expected to make Merck KGaA, Darmstadt, Germany, a leading electronic materials player focused on the semiconductor and display industries.
The transaction closing followed the recent approval from China’s State Administration for Market Regulation, which represented the final regulatory clearance to be obtained for completing the acquisition.
As a result of the acquisition, the number of Merck KGaA, Darmstadt, Germany, employees will increase by approximately 2,300 to a total of around 56,000 in 66 countries. As of 2022, the third full year after the transaction closing, Merck KGaA, Darmstadt, Germany, expects annual synergies of € 75 million.
“By acquiring Versum, we will be optimally positioned to capitalize on long-term growth trends in the electronic materials industry. At the same time, we are broadening Performance Materials, balancing our portfolio with three strong business sectors and sharpening our strategic focus on innovation-driven technologies,” explained Stefan Oschmann, chairman of the Executive Board and CEO of Merck KGaA, Darmstadt, Germany.
Since 2007, Merck KGaA, Darmstadt, Germany, has made acquisitions and divestments with a volume of around 40 billion euros, thereby transforming itself into a leading science and technology company.
“We are very pleased to welcome Versum to our team. After the most recent acquisition of Intermolecular, this closing marks another major milestone on our Bright Future transformation journey to become a leading player in the electronic materials market,” said Kai Beckmann, member of the executive board of Merck KGaA, Darmstadt, Germany, and CEO Performance Materials.
“The expertise of our combined business will enable us to offer customers in the electronics industry cutting-edge technology innovations. In addition, they will benefit from our expanded portfolio of products and services and our broader global positioning,” he added.
To ensure a smooth integration, Merck KGaA, Darmstadt, Germany, has already made excellent progress with the integration planning process.
The former Versum business will be integrated into the Semiconductor Solutions business unit ‒ besides Display Solutions and Surface Solutions one of the three business units of the Performance Materials business sector of Merck KGaA, Darmstadt, Germany.
Shares in Versum will no longer be traded on the New York Stock Exchange, with Merck KGaA, Darmstadt, Germany, now being the sole owner of Versum. Versum shareholders are being paid $53 per share.
In April 2018, the Air Products opened a new research and development facility in Hometown. Versum was spun off from Air Products in 2016.
Comments
If you support selling America to foreigners, donate to the trump campaign: www.coffinsforkurdishkids.org
lovers that hear the Coyotes at night.
Anyway, yea I agree selling USA land to foreign interests should be illegal. Look now they'll call us racists.
Wait a minute CT you talked in a circle. If the Germans are smart and treat their people so great how does this destroy the middle class that are going to work there? Nonetheless this USA soil should NOT be owned by anyone or any corporation outside the USA.
MAGA!
No circles... it's quite straight forward. Why must everyone be spoon fed?
I can't help but think that no matter who my employer is if I'm employed to make something and that something can be made cheaper elsewhere and/or the demand for it drops my days may be numbered.
Provided the Board of Directors are Patriots - enough said.