Merck completed the acquisition of Versum Materials, a supplier of innovation-driven, high-purity process chemicals for $53 per share in cash. The business combination has been unanimously approved by the Executive Board of Merck and by Versum’s Board of Directors. The business combination is expected to significantly strengthen Merck, Darmstadt, Germany’s Performance Materials business sector, creating a leading electronic materials player focused on the semiconductor and display industries. The business combination rebalances the company’s diversified three-pillar portfolio of Healthcare, Life Science and Performance Materials while executing on Performance Material’s previously communicated transformation program. “With this transaction, Merck KGaA, Darmstadt, Germany, will be optimally positioned to capitalize on long-term growth trends in the electronic materials industry. Our combined business shall deliver leading-edge innovations to our customers around the globe,” Stefan Oschmann, Merck Chairman of the Executive Board and CEO. Entegris, a provider of products and systems that purify, protect, and transport critical materials used in the semiconductor device fabrication process, and Merck, a leading science and technology company, are bidding for Versum Materials, which specializes in delivery equipment for the semiconductor industry. Entegris' initial $4bn bid was topped by Merck's $5.9bn offer on Feb. 27. On April 8 Merck increased its offer to $6.5bn. The sweetened bid was recommended by the board of Versum.