Dan’s Biz Bookshelf: ‘Costovation: Innovation That Gives Your Customers Exactly What They Want—And Nothing More’
The Right Approach: ‘Twas the Night Before Christmas (Harley-style)
It’s Only Common Sense: Dear Santa, Here’s My Sales Wish List
MKS Instruments, Atotech Receive China Antitrust Clearance for Pending Acquisition of Atotech
July 29, 2022 | AtotechEstimated reading time: 1 minute
MKS Instruments, Inc., a global provider of technologies that enable advanced processes and improve productivity, and Atotech Limited, a leading process chemicals technology company and a market leader in advanced electroplating solutions, announced that they have received unconditional merger approval from China’s State Administration for Market Regulation for MKS’ pending acquisition of Atotech. The transaction has now received all required regulatory clearances.
The acquisition, which is to be effected by means of a scheme of arrangement under the laws of the Bailiwick of Jersey (the “Scheme”), is anticipated to close on August 17, 2022, subject to obtaining the required sanction by the Royal Court of Jersey and the satisfaction of customary closing conditions. Ordinary shares of Atotech will be de-listed from The New York Stock Exchange in connection with the closing, and the last day of trading in such shares is expected to be August 16, 2022.
A hearing of the Royal Court of Jersey to sanction the Scheme has been scheduled to be held on August 15, 2022, at 10:00 a.m. (London Time) at Royal Court House, Royal Square, St Helier, Jersey, JE1 1JG. An updated expected timetable of principal events relating to the transaction is set out below.
“We are pleased to have met all necessary regulatory conditions required to complete the acquisition of Atotech,” said John T.C. Lee, President and CEO of MKS. “We look forward to being able to offer a comprehensive portfolio of capabilities in lasers, optics, motion and process chemistry to drive faster, better solutions and innovations for customers in advanced electronics.”
As previously announced on July 1, 2021, MKS entered into a definitive agreement with Atotech (the “Implementation Agreement”) pursuant to which MKS will acquire Atotech for $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech ordinary share. At the time of the announcement, the equity value of the transaction was approximately $5.1 billion and the enterprise value of the transaction was approximately $6.5 billion.
As previously announced by Atotech, on November 3, 2021, the transaction was approved by Atotech shareholders at a meeting convened pursuant to an order of the Royal Court of Jersey and a special resolution to implement the transaction was passed by Atotech shareholders at a general meeting.
Share on:
Suggested Items
Biden-Harris Administration Announces CHIPS Incentives Award with Amkor Technology to Bring End-to-End Chip Production to the U.S.
12/25/2024 | U.S. Department of CommerceThe Biden-Harris Administration announced that the U.S. Department of Commerce awarded Amkor Technology Arizona, Inc., a subsidiary of Amkor Technology, Inc., up to $407 million in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities.
Two Additional Boeing O3b mPOWER Satellites Successfully Communicating in Space
12/23/2024 | BoeingTwo more Boeing-built O3b mPOWER satellites are sending and receiving signals in space after launching from the Kennedy Space Center, Florida at 5:26 p.m.
Biden-Harris Administration Announces CHIPS Incentives Award with Samsung Electronics to Solidify U.S. Leadership in Leading-Edge Semiconductor Production
12/23/2024 | U.S. Department of CommerceThe Biden-Harris Administration announced that the U.S. Department of Commerce awarded Samsung Electronics (Samsung) up to $4.745 billion in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication facilities.
Northrop Grumman Launches Black Dagger Target to Test New Patriot Missile System Sensor
12/20/2024 | Northrop GrummanNorthrop Grumman Corporation launched a Zombie target vehicle variation, known as “Black Dagger,” from Fort Wingate to White Sands Missile Range, New Mexico, for the U.S. Army Space and Missile Defense Command’s (USASMDC) LTZ-3 test mission. Zombie targets get their name because they bring “new life” to demilitarized solid rocket motors by repurposing them to create threat-representative tactical ballistic missiles.
ViTrox Welcomes Gemaddis as a New Sales Channel Partner in France
12/20/2024 | ViTroxViTrox Technologies, which aims to be the World’s Most Trusted Technology Company in delivering innovative, advanced, and cost-effective automated Machine Vision Inspection Solutions for the semiconductor and electronics manufacturing industries, is honoured to announce its partnership with Gemaddis as its new Sales Channel Partner (SCP) for the French market, effective May 2024.