Merck, a science and technology company, announced that its proposed transaction with Intermolecular, was approved by the stockholders of Intermolecular at a special meeting held on July 17, 2019. On May 6, 2019, Merck had signed a definitive agreement to acquire Intermolecular through a subsidiary for $1.20 per share in an all cash transaction, representing an equity value of approximately $62 million.
“We are very pleased with this positive development of Intermolecular’s stockholders approving our acquisition proposal. Uniting our existing strength in the materials business with Intermolecular’s unique processes and R&D capabilities will allow us to create game changing innovations in the electronics material space. Together, we expect to provide our customers with an enhanced combination of material and process know-how strengthening our service provider capabilities,” said Kai Beckmann, member of the Executive Board of Merck and CEO of Performance Materials.
The transaction is expected to close in the second half of 2019, subject to regulatory clearances and the satisfaction of other customary closing conditions. Intermolecular is a California-based company leading in advanced materials innovation. Intermolecular possesses application specific materials expertise, accelerated learning and experimentation platforms with powerful analytics infrastructure that perfectly complement the business and technology portfolio of Merck’s Performance Materials business. Intermolecular’s fabrication and testing capabilities allow for material combinations to be tested directly within the specific target application for semiconductors, consumer electronics, aerospace and many other industries. In comparison to conventional methods these capabilities translate to major time reductions in the development process, dramatically accelerated learning cycles and insights into novel material systems to provide customers with a unique service value.
Merck will acquire Intermolecular through its subsidiary EMD Group Holding II.
