“Together we are well-positioned to drive and accelerate future innovations in the electronic materials industry,” said Kai Beckmann, member of the Executive Board of Merck KGaA and CEO Performance Materials.
The closing follows the satisfaction of regulatory clearances and other customary closing conditions. Up-on closing, approximately 90 employees at Intermolecular’s Research & Development site in San Jose, CA, USA will become part of the Performance Materials business sector of Merck KGaA, Darmstadt, Germany.
On May 6, 2019, Merck KGaA, Darmstadt, Germany, signed a definitive agreement to acquire Intermo-lecular through a subsidiary for $1.20 per share in an all-cash transaction, representing an equity value of approximately $62 million.
Intermolecular possesses application-specific materials expertise as well as accelerated learning and ex-perimentation platforms with an analytics infrastructure that complement the business and technology portfolio of Merck KGaA.
Merck KGaA has also achieved another important milestone in its strategic “Bright Future” transfor-mation program. On Sept. 16, 2019, Versum Materials Inc. and Merck KGaA received notice from the Committee on Foreign Investment in the United States (CFIUS) stating that CFIUS has completed its re-view of the proposed acquisition of Versum by Merck KGaA, and has concluded that there are no unre-solved national security concerns with respect to the transaction. The parties continue to work toward closing in the second half of 2019, subject to receipt of antitrust approval in China and the satisfaction of other customary closing conditions.
On April 12, 2019, Merck KGaA signed a definitive agreement to acquire Versum Materials, one of the world’s leading suppliers of high-purity process chemicals, gases and equipment for semiconductor manufacturing, for $53 per share in cash.