BILLERICA, Mass.--(BUSINESS WIRE)--Apr. 12, 2019--
Entegris, Inc. (NASDAQ:ENTG), a leader in specialty chemicals and
advanced materials solutions for the microelectronics industry, today
confirmed that Versum Materials (NYSE:VSM) (“Versum”) has terminated the
previously announced merger agreement with Entegris. As a result,
Entegris has received a $140 million termination fee from Versum.
“Looking ahead, Entegris is well positioned for sustainable growth and
shareholder value creation,” said Bertrand Loy, president and CEO of
Entegris. “As always, we remain focused on executing on our strategic
plan and providing our customers with exceptional solutions to help them
achieve higher yields and enhanced levels of performance and
reliability.”
About Entegris
Entegris is a leader in specialty chemicals and advanced materials
solutions for the microelectronics industry and other high-tech
industries. Entegris is ISO 9001 certified and has manufacturing,
customer service and/or research facilities in the United States, China,
France, Germany, Israel, Japan, Malaysia, Singapore, South Korea and
Taiwan. Additional information can be found at www.entegris.com.
Forward Looking Statements
This communication contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that are
subject to risks and uncertainties and are made pursuant to the safe
harbor provisions of Section 27A of the Securities Act of 1993, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. Where a forward-looking statement expresses or implies an
expectation or belief as to future events or results, such expectation
or belief is expressed in good faith and believed to have a reasonable
basis. The words “believe,” “expect,” “anticipate,” “intends,”
“estimate,” “forecast,” “project,” “should,” “may,” “will,” “would” or
the negative thereof and similar expressions are intended to identify
such forward-looking statements. These forward-looking statements may
include statements regarding the competitive ability and position of
Entegris following the termination of the merger agreement with Versum
Materials, Inc., our ability to execute on our business strategies and
pursue alternate opportunities, and other matters. These forward-looking
statements are based on current management expectations and assumptions
only as of the date of this communication, are not guarantees of future
performance and involve substantial risks and uncertainties that are
difficult to predict and that could cause actual results to differ
materially from the results expressed in, or implied by, these
forward-looking statements. These risks and uncertainties include, but
are not limited to, the risk that the announcement of the termination of
the transaction with Versum could have adverse effects on the market
price of the Entegris’ common stock; the risk that the termination of
the merger agreement and its announcement could have an adverse effect
on our business generally, including the ability of Entegris to retain
customers, retain and hire key personnel and maintain relationships with
suppliers and customers; significant transaction costs from the
terminated merger; unknown liabilities; the risk of litigation and/or
regulatory actions related to the merger or the termination of the
merger agreement; potential changes to our strategy as a result of the
termination of the merger agreement; weakening of global and/or regional
economic conditions, generally or specifically in the semiconductor
industry, which could decrease the demand for our products and
solutions; our ability to meet rapid demand shifts; our ability to
continue technological innovation and introduce new products to meet our
customers’ rapidly changing requirements; our concentrated customer
base; our dependence on sole source and limited source suppliers; raw
material shortages and price increases; our ability to identify, effect
and integrate acquisitions, joint ventures or other transactions; our
ability to protect and enforce intellectual property rights;
operational, political and legal risks of our international operations;
the level of, and obligations associated with, our indebtedness; and
other risk factors and additional information described in our filings
with the Securities and Exchange Commission, including under the heading
“Risks Factors” in Item 1A of our Annual Report on Form 10-K for the
fiscal year ended December 31, 2018, filed on February 11, 2019, and in
our other periodic filings. Entegris assumes no obligation to update any
forward-looking statements or information, which speak as of their
respective dates, to reflect events or circumstances after the date of
this communication, or to reflect the occurrence of unanticipated
events, except as may be required under applicable securities laws.
Investors should not assume that any lack of update to a previously
issued “forward-looking statement” constitutes a reaffirmation of that
statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190412005244/en/
Source: Entegris
Entegris
Bill Seymour
VP of Investor Relations
952-556-1844
bill.seymour@entegris.com
Or
Michael
Freitag / Kelly Sullivan
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449