WASHINGTON - Merrill Lynch & Co. won the job of managing Entegris Inc.'s $195 million initial public offering, snaring the business away from Banc of America Securities just two weeks after luring the firm's key semiconductor bankers.
Entegris, whose products help in the making of semiconductors, resubmitted a filing for the sale today with the Securities and Exchange Commission, showing Merrill the banker in charge. The offering was also cut by 8%.
The bankers who worked on the IPO at Banc of America - Rex Sherry, Chet Bozdog, Ted Hulbert and Hubert Chang - moved to Merrill earlier this month.
Entegris and its shareholders plan to sell 13 million shares at $13 to $15 each, down from an indicated range of $15 to $17 set earlier this month. The sale is expected in the week of July 3.