Merck Ignites $6 Billion Takeover Bid

CBJ — German pharmaceutical giant Merck has launched a hostile $6 billion all-cash takeover offer for Versum Materials.

Merck is looking to expand its presence and influence in the semiconductor materials market, while at the same time bumping off a rival bidder.

Versum, the former specialty chemicals division of industrial gases group Air Products, has been opposed to Merck’s unsolicited cash offer since it was first proposed last month, saying it was committed to an all-share merger with U.S. rival Entegris agreed in January.

Merck’s offer is on the table until June 7.