The market values of both companies have declined since the coronavirus pandemic intensified.
Versum shareholders are scheduled to vote next month on a merger with Entegris that is valued at less than Merck's $5.9 billion proposal.
Health insurer cites governance concerns in rebuffing offer that represents a 35% premium to its stockholders.
The takeover contest's outcome becomes unclear when we consider the conflict between the hedge fund’s objectives and the Allergan board's fiduciary duty.
