German drugs and lab supplies maker Merck has offered $5.9 billion, including debt, for Versum Materials, in a cash deal that tops an offer from U.S. rival Entegris, as both seek to boost their electrochemicals operations.
Merck said it planned to buy Versum for $48 per share - or $5.2 billion excluding debt - for a premium of 16% to Tuesday's closing price and of 52% to the share price before Entegris' offer. Entegris announced a $4 billion all-stock deal in January.