German Merck, the world's oldest pharmaceutical, chemical and biological company, announced its intention to acquire American electronic components manufacturer Versum for 5 billion and 800 million euros. The boards of directors of both companies have already approved this deal. It must now be approved by the shareholders of Merck and the regulatory authorities. The transaction is expected to be completed in the second half of this year. Previously, Versum entered into a merger agreement with rival Entegris, which offered it $48 per share. However, Merck made a better offer –$53 a share, prompting Versum to break the deal with Entergris and pay it $140 million in compensation for the failure of the deal.
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