CHASKA, MINN., June 11 /CNW/ - Entegris, Inc. (Nasdaq: ENTG) revised
today its previously reported preliminary results of its modified "Dutch
Auction" tender offer which expired at 11:59 p.m. ET, on Friday, June 8, 2007.
Based on the preliminary count of the depositary, the Company now expects to
accept for purchase approximately 21,332,874 of its common shares at a
purchase price of $11.80 per share at a total cost of approximately $252
The revision reflects the inclusion of common shares for which the
depositary received notices of guaranteed delivery prior to the expiration of
the offer. These shares were not originally reported in a summary provided to
the Company by the depositary. Upon inclusion of these shares, approximately
21,332,874 common shares were properly tendered and not withdrawn at prices at
or below the purchase price, based on the preliminary count of the depositary.
Shareholders who deposited common shares in the tender offer at or below
the purchase price will have all of their tendered common shares purchased,
subject to certain limited exceptions. The number of shares to be purchased
and the purchase price per share are preliminary. Final results for the tender
offer will be determined subject to confirmation by the depositary of the
proper delivery of the shares validly tendered and not withdrawn. The actual
number of shares to be purchased and the purchase price per share will be
announced following the completion of the verification process. Payment for
the shares accepted for purchase will occur promptly thereafter.
The number of shares the Company expects to purchase in the tender offer
represents approximately 16% of its currently outstanding common shares. In
the tender offer, the Company initially offered to purchase up to 20,408,163
of its common shares at a price between $11.00 and $12.25 per share, for a
maximum aggregate repurchase price of up to $250 million. The 21,332,874 total
common shares expected to be purchased in the tender offer includes 924,711
common shares pursuant to the Company's right to purchase up to an additional
2% of its shares outstanding in the event more than 20.4 million shares were
tendered without extending the offer.
Entegris is the global leader in materials integrity management,
delivering a wide range of products for purifying, protecting and transporting
critical materials used in processing and manufacturing in semiconductor and
other high tech industries. Entegris is ISO 9001 certified and has
manufacturing, customer service and/or research facilities in the United
States, China, France, Germany, Japan, Malaysia, Singapore, South Korea and
Taiwan. Additional information can be found at www.entegris.com.
Certain information contained in this press release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are based on
current management expectations only as of the date of this press release,
which involve substantial risks and uncertainties that could cause actual
results to differ materially from the results expressed in, or implied by,
these forward-looking statements. Statements which are modified by words such
as "anticipate," "believe," "estimate," "expect," "forecast," "may," "will,"
"should" or the negative thereof and similar expressions as they relate to
Entegris or our management are intended to identify such forward-looking
statements. These statements are not guarantees of future performance and
involve risks, uncertainties and assumptions which are difficult to predict.
These risks include, but are not limited to, fluctuations in the market price
of Entegris' stock, future operating results of Entegris, other acquisition
and investment opportunities available to Entegris, general business and
market conditions and other factors. Additional information concerning these
and other risk factors may be found in previous financial press releases
issued by Entegris and Entegris' periodic public filings with the Securities
and Exchange Commission, including the discussion described under the headings
"Risks Relating to our Business and Industry," "Manufacturing Risks,"
"International Risks," and "Risks Related to Securities Markets and Ownership
of Our Securities" in Item 1A of our Annual Report on Form 10-K for the fiscal
year ended December 31, 2006, as well as other matters and important factors
disclosed previously and from time to time in the filings of Entegris with the
U.S. Securities and Exchange Commission. Except as required under the federal
securities laws and the rules and regulations of the Securities and Exchange
Commission, we undertake no obligation to update publicly any forward-looking
statements contained herein.
For further information:
For further information: Entegris Steve Cantor, 978-436-6750 VP of
Corporate Relations firstname.lastname@example.org