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Published on 6/11/2007 in the Prospect News Special Situations Daily.

Entegris to repurchase more than 20 million shares in offer

By Lisa Kerner

Charlotte, N.C., June 11 - Entegris, Inc. said it expects to purchase 20,732,997, or 15%, of its common shares for $12.05 per share in the Dutch auction tender offer that ended on June 8. The company said it will pay a total of some $250 million.

Entegris had offered to purchase 20,408,163 of its common shares priced between $11.00 and $12.25 per share, for a maximum repurchase price of up to $250 million.

On May 10, the company announced it planned to fund the offer with $175 million from available cash on hand and with the proceeds from a $75 million bridge loan.

This latest share repurchase follows a $100 million buyback in October 2006, a company news release stated.

Minneapolis-based Entegris specializes in materials integrity management for the semiconductor and other high-tech industries.


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