Stockholders give green light to merger

Edited by the Electronicstalk editorial team Aug 5, 2005

The stockholders of both Entegris and Mykrolis Corp have approved the proposed merger between the two companies.

The stockholders of both Entegris and Mykrolis Corp have approved the proposed merger between the two companies at meetings held this week.

Approximately 81% of the outstanding Entegris shares were represented at the company's meeting, and approximately 99% of the shares voted on the merger proposal were cast in favour.

Mykrolis shareholders showed similar support with approximately 99% of the shares voted on the merger proposal cast in favour of the merger.

According to the terms of the merger agreement, each share of Mykrolis common stock will be exchanged for 1.39 shares of Entegris common stock on the closing of the merger, which is expected to occur on 6th August 2005.

Gideon Argov, the current Mykrolis CEO, will become the CEO of the combined company.

According to Argov, the merger creates the largest global materials integrity management company today, with combined sales of approximately $650 million for the trailing 12 months.

The company will focus on products and services that purify, protect, and transport critical materials used in semiconductor and other high technology industries.

"This merger combines two strong, successful companies into one of the most recognised and respected suppliers to the global semiconductor industry today", said Argov.

"We are excited to launch the new Entegris so that the opportunities created by this merger can be realised for customers, partners, shareholders and employees".

The combined company will be named Entegris, although the Mykrolis brand will be retained for certain products.

This plays on the strengths of both companies in serving multiple markets worldwide.

Current Entegris CEO Jim Dauwalter, will become the nonexecutive Chairman of the Board for Entegris.

"Each company has successfully established very significant market presence, and the union of our two companies will make Entegris even stronger, from Japan and Asia Pacific, to the United States and Europe", said Dauwalter.

"I am confident that Gideon, his leadership team and our dedicated employees will take Entegris to an exciting, growth-oriented future".