Versum, Entegris see extra merger benefits, Merck hires Goldman [Reuters]
VERSUM MATERIALS INC (VSM)
Last versum materials inc earnings: 8/6 09:00 am
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Source: Reuters
Versum, Entegris see extra merger benefits, Merck hires Goldman | Reuters 2 Min Read FRANKFURT (Reuters) - Entegris and Versum Materials on Friday highlighted additional benefits from their planned all-share merger, while rival bidder Merck KGaA said it had brought in Goldman Sachs to help with its counter offer. Electrochemicals companies Entegris and Versum said in a letter to shareholders they now expect $125 million in cost benefits, or $50 million more in annual earnings before interest, tax, depreciation and amortization, more than originally identified. “We are confident the combined company will meet or exceed the newly stated cost synergy goals as well as realize the other benefits of this merger,” Versum chairman Seifi Ghasemi and Entegris Chief Executive Bertrand Loy said in the letter. German drugs and lab supplies group Merck KGaA for its part said it had hired Goldman Sachs as an additional adviser alongside Guggenheim and Sullivan Cromwell. Goldman Sachs has an establis
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