Germany's Merck to Buy Intermolecular for $62 Million in All-Cash Deal
May 06 2019 - 9:49AM
Dow Jones News
By Donato Paolo Mancini
Merck KGaA (MRK.XE) is to acquire Intermolecular Inc. (IMI) for
$1.20 per share in an all-cash transaction valued at $62 million,
the company said Monday, as the group moves to accelerate the
transformation of its performance-materials sector and to increase
its semiconductor-technology offering.
Germany's Merck will acquire Intermolecular through a
subsidiary, EMD Group Holding II, Inc.
The acquisition, expected to close in the second half of 2019,
has been unanimously approved by the executive board of Merck and
by Intermolecular's board of directors, said Merck. It is subject
to customary closing conditions. Intermolecular reported annual
sales of $33.7 million in FY2018 and employs about 90 people, said
Merck.
Earlier this year, Merck was embroiled in a tussle for the
acquisition of Versum Materials Inc. (VSM), which culminated in a
hostile takeover. Merck finally scuttled a previously announced
deal with Entegris Inc. (ENTG).
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com; @donatopmancini
(END) Dow Jones Newswires
May 06, 2019 09:34 ET (13:34 GMT)
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