IMI Intermolecular Inc

   By Donato Paolo Mancini 
 

Merck KGaA (MRK.XE) is to acquire Intermolecular Inc. (IMI) for $1.20 per share in an all-cash transaction valued at $62 million, the company said Monday, as the group moves to accelerate the transformation of its performance-materials sector and to increase its semiconductor-technology offering.

Germany's Merck will acquire Intermolecular through a subsidiary, EMD Group Holding II, Inc.

The acquisition, expected to close in the second half of 2019, has been unanimously approved by the executive board of Merck and by Intermolecular's board of directors, said Merck. It is subject to customary closing conditions. Intermolecular reported annual sales of $33.7 million in FY2018 and employs about 90 people, said Merck.

Earlier this year, Merck was embroiled in a tussle for the acquisition of Versum Materials Inc. (VSM), which culminated in a hostile takeover. Merck finally scuttled a previously announced deal with Entegris Inc. (ENTG).

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com; @donatopmancini

(END) Dow Jones Newswires

May 06, 2019 09:34 ET (13:34 GMT)

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