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Merck KGaA raises offer for Versum Materials to $53 per share

Merck KGaA raises offer for Versum Materials to $53 per share
FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski/File Photo   -   Copyright  Ralph Orlowski(Reuters)
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(Reuters) – Versum Materials Inc said on Monday that Merck KGaA had raised its offer for the company to $53 per share from $48.

Merck had launched a hostile $5.9 billion (4.52 billion pounds) all-cash takeover offer for Versum last month as the German pharma group looks to boost its presence in the semiconductor materials market. (https://reut.rs/2Vw7iNE)

Merck did not have an immediate comment.

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Anil D’Silva)

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