- Entegris Inc (NASDAQ:ENTG) terminated its distribution deal with MacDermid Alpha Electronics Solutions in exchange for $200 million.
- MacDermid Alpha Electronics Solutions is a business unit of Element Solutions Inc (NYSE:ESI).
- Entegris received $170 million at the closing, and the remainder is expected to be paid after the transitionary period.
- The distribution agreement, signed in 2003, offered Entegris an exclusive right to distribute MacDermid Enthone ViaForm copper plating chemistries used in front-end chip-making electrochemical deposition processes.
- Entegris expects this transaction’s proceeds to contribute towards debt repayment.
- Last month, Entegris reported Q1 FY23 revenue of $922.4 million, beating the consensus of $892.67 million and adjusted EPS of $0.65 exceeded the Street estimates of $0.52.
- Price Action: ENTG shares are trading lower by 0.65% at $107.69 premarket on the last check Monday.
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