Atotech Receives Buyout Offer from MKS Instruments – Report


Specialty chemicals supplier Atotech (ATC) has become a buyout target just a few months after going public. MKS Instruments (MKSI) has made an offer to acquire Atotech, according to a Reuters report citing confidential sources. Atotech stock rose 10.5% on June 11 following the report.

Berlin-based Atotech supplies products that are used in the manufacturing of smartphones, home appliances, automotive, and heavy machinery. MKS Instruments makes semiconductor equipment. Acquiring Atotech would expand its offerings in chip production through the addition of Atotech’s plating chemicals. However, there is no guarantee that Atotech will negotiate with MKS Instruments or that the parties will agree on a deal, according to the report.

Atotech made its public market debut in February. The company was privately held by The Carlyle Group (CG) before the IPO. (See Atotech stock analysis on TipRanks)

BMO Capital analyst John McNulty reiterated a Buy rating with a price target of $28 on Atotech stock. The analyst’s price target implies around 11% upside potential.

Consensus among analysts is a Strong Buy based on 5 Buys and 1 Hold. The Atotech average analyst price target of $26 implies approximately 3% upside potential to current levels.

ATC scores a 6 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to perform in line with market averages.

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