Business & Tech
Andover's MKS Instruments To Buy German Chemical Company Atotech
The Andover-based company will spend $5.1 billion in cash and stock to expand its chip manufacturing.
ANDOVER, MA — Andover-based semiconducter equipment company MKS Instruments is going to buy the German chemical company Atotech, the company said Thursday.
MKS Instruments will spend $5.1 billion in cash and stock in the transaction, which it expects to close in late 2021, it said.
The sale price represents a 10 percent premium on Atotech's stock price on June 10, when Reuters reported the potential sale, Reuters said.
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The deal is intended to expand MKS Instruments' chip manufacturing offerings, amid a global semiconductor shortage.
Christopher Huffaker can be reached at 412-265-8353 or chris.huffaker@patch.com.
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