摘要：Versum 材料業務增長穩健，2018年營業利潤率為20%，但基礎材料板塊增長相對緩慢。Versum Materials 預計2019年全年收入同比僅增長1%至4%，調整後的 EBITDA 增長4%至9%。
Shares of Versum Materials rose more than 18% today after it confirmed that German materials behemoth Merck KGaA was interested in acquiring the basic materials manufacturer. The proposed acquisition would occur for $48 per share, but the stock rose above that price. It turns out there's a good reason for overshooting the proposed acquisition value.
Versum Materials 股價今日上漲逾18%，此前該公司證實，德國材料巨頭默克公司( Merck KGaA )有意收購這家基礎材料生產商。擬議中的收購將以每股48美元的價格進行，但股價高於這個價格。事實證明，有一個很好的理由超過擬議的收購價值。
German drugs and lab supplies maker Merck KGaA offered $5.9 billion (4.4 billion pounds), including debt, for Versum Materials, in a cash deal that tops an offer from U.S. rival Entegris, as both seek to boost their electrochemicals operations.
德國藥品和實驗室用品製造商默克公司( Merck KGaA )出價59億美元(約合44億英鎊)，其中包括債務，收購 Versum Materials ，現金交易高於美國競爭對手 Entegris 的出價，因兩家公司都在尋求提高電化學業務。
At the end of January, Versum Materials agreed to merge with Entegris (NASDAQ: ENTG). The "merger of equals" promised to create a $9 billion materials company with a significant market share in the semiconductor industry. That deal was valued at around $35 per share. Now that Merck KGaA is interested, investors think a bidding war could erupt, or that they'll end up with considerably more cash.
1月底， Versum Materials 同意與 Entegris 合併（ NASDAQ ： ENGG ）。“對等合併”承諾將創建一個價值90億美元的材料公司，在半導體行業佔有重要的市場份額。這筆交易的價值約為每股35美元。既然默克（Merck KGaA）公司對此感興趣，投資者認為一場競購戰可能爆發，或者最終會帶來更多的現金。
As of 2:45 p.m. EST, the stock had settled to a 17.8% gain。
截至美國東部時間下午2點45分,該股已穩定上漲17.8%。
Having multiple suitors interested in an acquisition certainly isn't bad news for Versum Materials. Whether a bidding war will ensue is up for debate, however.
對於 Versum Materials 來說，擁有多個對收購感興趣的買家肯定不是壞消息。然而，競標戰是否會接踵而至還有待討論。
The materials business delivered solid fiscal first-quarter 2019 operating results, including an operating margin of 20%, but the basic materials sector is relatively slow growing. Versum Materials expects full-year 2019 revenue to grow just 1% to 4% year over year, while adjusted EBITDA could grow as much as 4% to 9% compared to 2018.
Versum 材料業務增長穩健，2018年營業利潤率為20%，但基礎材料板塊增長相對緩慢。 Versum Materials 預計2019年全年收入同比僅增長1%至4%，而調整後的 EBITDA 與2018年相比可能增長4%至9%。
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