Filing Flows › Entegris (ENTG) › Takeover & LBO
Is Entegris (ENTG) a takeover target?
A leveraged buyout at today's price plus 30% ($200.71 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $91.80 a share (−41% against today's $154.39). Historically 3.6% of companies with its figures were bought within a year (0.73× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $200.71 | today's $154.39 plus 30% |
| × shares | 153.9 million | |
| = Equity value | $30.9B | |
| + Debt refinanced | $3.3B | |
| − Cash | $356M | |
| = Enterprise value | $33.8B | 42.4× EBITDA of $798M |
| Fees | $676M | 2% of the price |
| New debt | $4.4B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $30.1B | 87% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $3.8B | $862M | $336M | $258M | $4.1B |
| Year 2 | $4.1B | $920M | $316M | $317M | $3.8B |
| Year 3 | $4.3B | $970M | $292M | $376M | $3.4B |
| Year 4 | $4.5B | $1.0B | $263M | $434M | $3.0B |
| Year 5 | $4.6B | $1.0B | $230M | $488M | $2.5B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 33.4× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $34.8B | |
| − Debt left | $2.5B | |
| = Buyer's equity | $32.3B | |
| Money multiple | 1.07× | on $30.1B put in |
| Buyer's yearly return (IRR) | 1.4% |
Price against return
What the buyer makes at other premiums over today's $154.39; the IRR reaches 20% at $91.80 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $169.83 | 5.1% |
| 20% | $185.27 | 3.2% |
| 30% | $200.71 | 1.4% |
| 40% | $216.15 | −0.1% |
| 50% | $231.58 | −1.5% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $3.5B | |
| EBITDA, last 12 months | $798M | 22.6% of revenue |
| Depreciation and amortization | $156M | |
| Capital spending | $182M | |
| Debt | $3.3B | |
| Cash | $356M | |
| Share price | $154.39 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 12% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Entegris would cost about $204.57 a share, $31.5B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $185.27 | $28.5B |
| Median | 32.5% | $204.57 | $31.5B |
| High end (a quarter paid more) | 51.8% | $234.36 | $36.1B |
The odds, from history
Historically 3.6% of companies with its figures were bought within a year (0.73× the average). Its figures put it in decile 3 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Entegris' latest quarter
Entegris, Q3 2026: revenue $1.0B (+25% year over year), operating margin 22.9%, net earnings $158M, operating cash flow $267M. The chart follows the revenue to costs, profit and cash.
Questions
Is Entegris being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Entegris?
A leveraged buyout at today's price plus 30% ($200.71 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $91.80 a share (−41% against today's $154.39).
What would a takeover of Entegris cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Entegris would cost about $204.57 a share, $31.5B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.