<span style='color:red'>Cabot Microelectronics</span> Corporation completes acquisition of KMG Chemicals
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Cabot Microelectronics Corporation completes acquisition of KMG Chemicals

Cabot Microelectronics Corporation (Nasdaq: CCMP), today announced that it has completed its previously announced acquisition of KMG Chemicals, Inc.  As a result of the acquisition, KMG has become a wholly owned subsidiary of Cabot Microelectronics.  Under the terms of the definitive agreement, each share of KMG common stock was converted into the right to receive $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock, without interest and with cash paid in lieu of any fractional shares.The acquisition will extend and strengthen Cabot Microelectronics’ position as one of the leading suppliers of consumable materials to the semiconductor industry.  Additionally, the combined company will be a leading global provider of performance products and services for improving pipeline operations and optimizing throughput.  The transaction is expected to be significantly accretive to Cabot Microelectronics’ free cash flow and adjusted earnings per share in year one, excluding any acquisition-related costs.“I am pleased to announce that we have completed the KMG transaction.  We welcome KMG’s employees to our team and look forward to our journey together towards becoming the premier global provider of semiconductor and specialty materials.  We believe that our employees, customers and shareholders will benefit from this transaction as we become a stronger company, focused on providing high-performing and innovative solutions to our customers,” said David Li, President and CEO of Cabot Microelectronics.  “KMG’s industry-leading electronic materials business will expand our CMP product offerings with high-purity solutions used throughout the semiconductor manufacturing process.  We are also excited about the addition of KMG’s performance materials businesses to our portfolio which will allow us to expand our participation into new markets including the attractive, high-growth pipeline performance segment.”In connection with the acquisition, Cabot Microelectronics borrowed $1.065 billion under a new senior secured term loan facility, the proceeds of which were used to finance in part the cash portion of the merger consideration, to repay KMG’s existing indebtedness and to pay fees and expenses related to the acquisition.  Cabot Microelectronics issued approximately 3.2 million shares of common stock to holders of KMG common stock for the stock portion of the merger consideration.
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Release time：2018-11-16 00:00 reading：991 Continue reading>>
<span style='color:red'>Cabot Microelectronics</span> to acquire KMG Chemicals<span style='color:red'>Cabot Microelectronics</span> to acquire KMG Chemicals
Trade news

Cabot Microelectronics to acquire KMG ChemicalsCabot Microelectronics to acquire KMG Chemicals

Cabot Microelectronics Corporation (Nasdaq: CCMP), a supplier of chemical mechanical planarization (CMP) polishing slurries and second largest CMP pads supplier to the semiconductor industry, and KMG Chemicals, Inc. (NYSE: KMG), a global provider of specialty chemicals and performance materials, have entered into a definitive agreement under which Cabot Microelectronics will acquire KMG in a cash and stock transaction with a total enterprise value of approximately $1.6 billion. Under the terms of the agreement, KMG shareholders will be entitled to receive, per KMG share, $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock, which represents an implied per share value of $79.50 based on the volume weighted average closing price of Cabot Microelectronics common stock over the 20-day trading period ended on August 13, 2018.  The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close near the end of calendar year 2018.The combined company is expected to have annual revenues of approximately $1 billion and approximately $320 million in EBITDA, including synergies, extending and strengthening Cabot Microelectronics’ position as one of the leading suppliers of consumable materials to the semiconductor industry.  Additionally, the combined company will be a leading global provider of performance products and services for improving pipeline operations and optimizing throughput.“We are excited about the combination of two world-class organizations with dedicated and talented employees that provide innovative, high quality solutions to solve our customers’ most demanding challenges,” said David Li, President and CEO of Cabot Microelectronics. “KMG’s industry-leading electronic materials business is highly complementary to our CMP product portfolio, while its performance materials business broadens our product offerings into the fast-growing industry for pipeline performance products and services.  We welcome KMG’s employees to our team and look forward to our future together as one company.”Chris Fraser, KMG Chairman and CEO, said, “This is an outstanding combination, bringing together two leading companies that will benefit from increased size, scale and geographic reach. For KMG shareholders, this transaction creates significant and immediate value while also providing participation in the future growth of the combined company.  Thanks to the dedication and hard work of KMG employees around the world, KMG has achieved significant progress over the past several years, and I am confident that Cabot Microelectronics will continue to build on this success to further enhance value for our shareholders.”
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Release time：2018-08-16 00:00 reading：3214 Continue reading>>

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