Entegris Inc. and Mykrolis Corp. said that their respective stockholders have voted in favor of their merger, which the companies anticipate to close by the end of this week.
The materials management suppliers first announced plans to merge in March of this year.
Approximately 81 percent of the outstanding Entegris shares were represented at its stockholders'' meeting this morning, and approximately 99 percent of the shares voted on the merger proposal were cast in favor
it, according to the company. Mykrolis shareholders showed a similar level of support, according to the companies.
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 August 6, 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 last 12 months. The company will focus on products and services that purify, protect, and transport critical materials used in semiconductor and other high tech industries.
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 non-executive chairman of the board for Entegris.
