MKS Instruments may not be close to remedy package with China on Atotech deal - report

May 12, 2022 8:33 AM ETMKS Instruments, Inc. (MKSI), ATCBy: Joshua Fineman, SA News Editor5 Comments

MKS Instruments headquarters in Silicon Valley

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  • MKS Instruments (NASDAQ:MKSI) is said to not be close to an agreement with China's antitrust regulators on a remedy for its planned purchase of Atotech (NYSE:ATC).
  • The companies have been in talks in recent weeks with China's State Administration for Market Regulation, though they haven't yet heard feedback from the regulator, according to a Dealreporter item.
  • Early last month the companies agreed to extend the walk date for the transaction to Sept. 30 day to allow additional time for the regulatory approval by SAMR.
  • A Dealreporter item in March indicated that MKSI's planned $5 billion acquisition of ATC was likely to get approval from China's antitrust regulator, though the authority needs additional time to negotiate remedies.
  • According to a report circulated in March, while SAMR initially planned to clear the deal without conditions, SAMR received concerns from third parties in its final check.
  • MKSI Instruments (MKSI) CEO John Lee said late last month on the company's Q1 earnings call that the company continues to work with SAMR to obtain clearance.
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