Versum Investors Try To Halt Entegris Merger, Favor Merck Bid
By Aaron Leibowitz (March 4, 2019, 4:39 PM EST) -- Investors in Versum Materials Inc. have asked a Delaware federal judge to halt the chemical company's planned tie-up with Entegris Inc., alleging that Versum made insufficient financial statements to the U.S. Securities and Exchange Commission and that a different merger offer would create more value.
Versum touted the fairness of the proposed Entegris merger in a Feb. 28 registration statement, but it failed to include complete information about the financial projections the board relied on to preliminarily approve the deal, according to the investors' complaint, which was filed Friday. A competing offer from Merck KGaA "exceeds the implied value of the...
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