Shares of CMC Materials, Inc. (CCMP), a supplier of advanced materials primarily for the semiconductor industry, are rising more than 25% in the morning trade on Wednesday after the company announced its agreement to be acquired by Entegris, Inc. (ENTG) in a transaction valued about $6.5 billion, to be paid in cash and stock.

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Shares of CMC Materials, Inc. (CCMP), a supplier of advanced materials primarily for the semiconductor industry, are rising more than 25% in the morning trade on Wednesday after the company announced its agreement to be acquired by Entegris, Inc. (ENTG) in a transaction valued about $6.5 billion, to be paid in cash and stock.

RTTNews | Dec 15, 2021 10:01AM EST

10:01 Wednesday, December 15, 2021 (RTTNews.com) - Shares of CMC Materials, Inc. (CCMP), a supplier of advanced materials primarily for the semiconductor industry, are rising more than 25% in the morning trade on Wednesday after the company announced its agreement to be acquired by Entegris, Inc. (ENTG) in a transaction valued about $6.5 billion, to be paid in cash and stock.

As per the deal, CMC Materials shareholders will get $133 in cash and 0.4506 shares of Entegris for each CMC share they own.

The total per share consideration represents a 35% premium over CMC Materials' closing price on December 14, 2021, and a 38% premium to the 10-day volume weighted average share price.

CCMP is trading at $183.18 currently.

Read the original article on RTTNews ( https://www.rttnews.com/3249559/cmc-materials-surges-on-news-of-acquisition-by-entegris.aspx)

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