Entegris revises preliminary results of tender offer

By Lisa Kerner

Charlotte, N.C., June 12 - Entegris, Inc. said it expects to purchase 21,323,874 of its common shares for $11.80 per share, or $252 million total, in the modified Dutch auction tender that ended on June 8, rather than the 20,732,997 shares for $12.05 each, or $250 million total, previously reported.

The 21,322,874 shares represent about 16% of the company's currently outstanding common shares and include 924,711 common shares to be purchased under Entegris' right to buy up to an additional 2% of its shares outstanding if more than 20.4 million shares were tendered.

Entegris had offered to buy back 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, a company news release stated.

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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