Versum Materials (VSM - $50.31 – NYSE) (NYSE:VSM) is a leading maker of chemicals used in the production of semiconductors and other electronics. Its stock appreciated sharply during the quarter after it received an acquisition o er from Entegris for cash and stock. It moved even higher after Merck KGaA topped that o er with a $48 cash proposal. At quarter-end, the Fund had sold most of its stock, although we believe there is a good chance that the nal sale price could be above the Merck offer.
From Keeley Funds' first-quarter 2019 Keeley Mid-Cap Dividend Value Fund commentary.
