On Tuesday, Merck KGaA launched a hostile $5.9 billion all-cash takeover bid for Versum Materials to boost its presence on the market for semiconductor materials and sideline the bid of Entegris. Since it was first proposed last month, Versum opposed Merck’s unsolicited cash offer, saying it was committed to an all-share merger with U.S. rival … Read more
Tronox Limited confirmed on Monday that the Federal Trade Commission has withdrawn the company’s proposed acquisition of The National Titanium Dioxide Company Limited’s titanium dioxide business from adjudication for the purpose of considering the proposed Consent Agreement. The transaction would then be able to be consummated if the proposed Consent Agreement were finally approved by the Commission. The … Read more
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers and the Abu Dhabi National Oil Company (ADNOC) signed a Memorandum of Understanding (MoU) agreement to explore potential growth opportunities within the polyolefin industry in key geographical markets that both parties view as key demand centers in the future. … Read more
INEOS has announced on Tuesday that it has signed an agreement to acquire Cristal’s (National Titanium Dioxide Company Limited) North American TiO2 business from Tronox Limited for $700 million. The North American business of Cristal includes two plants located in the complex of Ashtabula Ohio (US). The deal is the proposed remedy package submitted by … Read more
Safic-Alcan UK, a major specialty chemicals distributor and Safic-Alcan Group subsidiary, announced on Monday that it has acquired 100% of Langley-Smith & Company. “The acquisition of Langley – Smith will strengthen our position as a leader in the distribution of specialty chemicals in the UK and Ireland and develop our capabilities in mainland Europe,” said … Read more
Royal DSM, a global science-based Nutrition, Health and Sustainable Living company, informed its stakeholders that it has completed the increase of its stake in Yantai Andre Pectin Co. Ltd. (Andre Pectin) to 75 percent. The first announcement of the increase was made on 4 February 2019. In 2013, DSM acquired a 29 percent stake in … Read more
Saudi Basic Industries Corporation (SABIC) intends to combine its two wholly owned subsidiaries, the Saudi Petrochemical Company (SADAF) and the Arabian Petrochemical Company (PETROKEMYA). The petrochemical giant said in a market report on Wednesday that SADAF will be fully merged into PETROKEMYA on the basis of the valuation set out in its latest financial statements. … Read more
Merck KgaA filed with the U.S. Securities and Exchange Commission (SEC) a preliminary proxy statement on Tuesday urging all Versum shareholders to vote against the merger with the rival Entegris. Merck has reiterated in the statement that “it is convinced that the proposed Entegris transaction is not the best option available to the Versum shareholders, … Read more
Azelis has acquired Chemroy, a specialty food ingredients and chemical distributor from Canada. Financial details of the transaction were not disclosed. According to the company, the acquisition will strengthen its status as one of the leading distributors of specialty ingredients in Canada and will enhance its position in the coating, nutritional, personal care and food … Read more
On Tuesday, Germany’s Merck KGaA called on Versum Materials shareholders to put pressure on the management of the electronic materials manufacturer to consider their takeover bid over a rival Entegris’ bid. Versum rejected Merck’s unsolicited $5.9 billion cash offer on Friday. The proposal made to the management was non-binding and has not been submitted to … Read more
On Tuesday, Huber Engineered Materials (HEM), a subsidiary of J.M. Huber Corporation, announced that it had entered into a definitive agreement with Dunes Point Capital, LP to acquire Miller Chemical & Fertilizer, LLC. The current team and management will continue to run the operations of Miller as a business unit within HEM. Huber looks forward … Read more
Evonik signed an agreement to sell its methacrylates business for € 3 billion ($ 3.4 billion) to Advent International. The sales price is 8.5 times the EBITDA of the business. The transaction is subject to regulatory approvals in various countries and is due to close in the third quarter of this year. Globally, Evonik’s methacrylates … Read more
German Stockmeier Group acquired Química Industrial, Spanish Indukern Group’s industrial chemical distribution division. The newly founded Stockmeier Química SLU will take over the business. According to Indukern’s growth strategy, the agreement to sell its Industrial Chemicals division to the Stockmeier Group prioritizes the activities of its four other divisions. “We are very pleased that the … Read more
Versum Materials (VSM) announced that its Board of Directors rejected Merck KGaA’s unsolicited and non – binding proposal to acquire Versum at $ 48 per share in cash received on February 27, 2019. “After careful review and consideration, conducted in consultation with its independent financial and legal advisors, the Versum Board concluded that Merck KGaA’s … Read more
Nutrien Ltd. has announced that it has concluded a binding agreement with Ruralco Holdings Limited to acquire Ruralco for roughly $335 million. “The combination of our Landmark operations with Ruralco in Australia is expected to provide significant benefits for all stakeholders including delivering excellent value for both Ruralco and Nutrien shareholders. The acquisition is anticipated … Read more
Germany’s Merck KGaA has announced a counter bid to acquire Versum Materials for $5.9 billion in cash against U.S. rival Entegris’ $4 billion offer. The company said it planned to buy Versum for $48 per share ($5.2 billion excluding debt), a 51.7% premium to Versum’s undisturbed share price, on January 25, 2019, the day prior … Read more
Chroma Color Corporation announced that it has acquired Polymer Concentrates Inc., based in Clinton, MA. With this latest acquisition, Chroma Color, together with its range of colorant and additive technologies, continues to increase its production footprint to better serve existing and prospective customers. Transaction terms have not been disclosed. Polymer Concentrates Inc., a private company, … Read more
INEOS Styrolution, the world leader in styrenics, announced the completion of the acquisition of polystyrene sites from Total S.A. after all applicable regulatory and legal approvals have been received. The transaction, which was agreed on 31 August 2018, includes the purchase of the Foshan site in South China’s Guangdong Province and the Ningbo site in … Read more
The divestiture is expected to result in net cash proceeds of at least $615 million, which will be immediately utilized to pay down debt.
DowDuPont’s sells Styrofoam-brand extruded polystyrene (XPS) insulation business, including seven production plants to Ravago