(Reuters) - Specialty chemicals maker Entegris Inc said on Monday it would buy rival Versum Materials Inc in an all-stock deal worth about $4 billion, creating a company that will mainly make components for the semiconductor industry.
The enterprise value of the deal is $9 billion, and the combined chemical company will sell products such as advanced materials, specialty gases and microcontamination control.
Versum Materials shareholders will get 1.120 shares of Entegris for each share held, the companies said.
This translates to a deal value of $3.83 billion, according to Reuters calculation.
Entegris will hold 52.5 percent of the combined company.
The deal is expected to generate more than $75 million in annual cost savings, the companies said.
The Wall Street Journal reported on Sunday that the companies were nearing a deal.