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VSM

Versum Materials

$52.11

-0.17 (-0.33%)

, MKGAY

Merck KGaA

$0.00

(0.00%)

05:54
05/07/19
05/07
05:54
05/07/19
05:54

Versum Materials withholds guidance due to pending merger with Merck KGaA

In light of the announced transaction with Merck KGaA (MKGAY), Versum Materials (VSM) will not provide or update annual financial guidance and will not hold a conference call to review quarterly earnings results. The parties continue to work toward closing in the second half of 2019 and the transaction is subject to the approval of Versum stockholders at a Versum special meeting, regulatory clearances and the satisfaction of other customary closing conditions.

VSM

Versum Materials

$52.11

-0.17 (-0.33%)

MKGAY

Merck KGaA

$0.00

(0.00%)

VSM Versum Materials
$52.11

-0.17 (-0.33%)

04/09/19
LOOP
04/09/19
NO CHANGE
Target $46
LOOP
Buy
Entegris price target lowered to $46 from $50 at Loop Capital
Loop Capital analyst Chris Kapsch lowered his price target on Entegris (ENTG) to $46, citing reduced chances of the company consummating a merger of equals with Versum (VSM) after its management stated that it "does not currently intend to propose to revise the terms of the merger of equals." The analyst is keeping his Buy rating on the stock however, adding that he would not be surprised if an alternative acquisition from the company emerged. In a base case scenario of Entegris proceeding alone in the near term, Kapsch models the $140M break-up fee to be used for buybacks.
04/16/19
LOOP
04/16/19
DOWNGRADE
Target $53
LOOP
Hold
Versum Materials downgraded to Hold from Buy at Loop Capital
Loop Capital analyst Chris Kapsch downgraded Versum Materials to Hold from Buy and lowered his price target for the shares to $53 from $56.
04/16/19
04/16/19
DOWNGRADE
Target $53

Hold
Versum Materials downgraded to Hold from Buy at Loop Capital
As previously reported, Loop Capital analyst Chris Kapsch downgraded Versum Materials (VSM) to Hold and lowered his price target to $53 from $56, saying the bidding process for the company has "run its course" after its board agreed to Merck KGaA's (MKGAY) "sweetened" deal over that of Entegris' (ENTG) merger of equals proposal. The analyst says the stock has limited upside from its current levels and expects the deal to close in the second half of 2019.
04/17/19
DBAB
04/17/19
NO CHANGE
Target $45
DBAB
Buy
Entegris price target raised to $45 from $40 at Deutsche Bank
Deutsche Bank analyst Sidney Ho raised his price target for Entegris (ENTG) to $45 from $40 and maintains a Buy rating on the shares. The analyst says that despite losing out on the Versum Materials (VSM) merger, he's learned in the negotiation process that Entegris management is highly committed to reach its 2020 earnings per share target of $3.00. The company has previously suggested that there is a solid pipeline of acquisition opportunities, and that it can also use its cash balance for share repurchases, Ho tells investors in a research note.
MKGAY Merck KGaA
$0.00

(0.00%)

03/15/19
UBSW
03/15/19
DOWNGRADE
UBSW
Neutral
Merck KGaA downgraded to Neutral from Buy at UBS
UBS analyst Michael Leuchten downgraded Merck KGaA to Neutral from Buy saying the stock's valuation is now close to his sum-of-the parts analysis. The analyst believes near-term catalysts are now priced into the shares. He lowered his price target for Merck KGaA to EUR 108 from EUR 115.
04/03/19
04/03/19
UPGRADE
Target $56

Buy
Versum Materials upgraded to Buy at Loop Capital on deal prospects
As previously reported, Loop Capital analyst Chris Kapsch upgraded Versum Materials (VSM) to Buy from Hold and raised his price target for the shares to $56 from $53. The analyst say he "really likes" the potential combination with Entegris (ENTG) if it is successful in acquiring the company, as the merged entity would "create a premier mid-cap specialty materials company". Kapsch also speculates that Merck KGaA (MKGAY) is likely to increase its offer to acquire Versum even as the latter's board has "unequivocally spurned" the all-cash $48/share takeout bid and believes the revised proposal could come before the April 26th shareholder vote on the proposed merger of equals with Entegris.
04/08/19
STFL
04/08/19
DOWNGRADE
Target $53
STFL
Hold
Versum Materials downgraded to Hold from Buy at Stifel
Stifel analyst Patrick Ho downgraded Versum Materials (VSM) to Hold from Buy after the company received a revised all-cash offer of $53 per share offer from Merck KGaA (MKGAY) and Entegris (ENTG) announced in a press release that it would not counter this bid. With Entegris turning down a potential counter and walking away, Ho said he does not believe there will be any additional counter, hostile, or unsolicited bidding. He raised his price target for Versum shares to $53 from $46.

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