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LANXESS $2 billion 700 million acquisition of Chemtura
Source:http://www.petplasticproducts.com2016/9/27 23:04:49

On Sunday, LANXESS group announced on the current market value of 2 billion 400 million pounds (about $2 billion 700 million) for the production of specialty chemicals business to start the acquisition of poly offensive. The merger and acquisition will help expand the two sides in the lubricant and flame retardant additives, such as the business.

According to Chemtura news, LANXESS for Chemtura shares subscription price at $33.5 per share. Compared to its September 23rd closing price of $28.18 per share, higher than the 18.9%.

LANXESS plans through the use of liquidity, the issuance of new bonds and other means to complete the transaction. At present, the group has adopted a variety of senior bonds and mixed capital bonds to ensure the bridge funding. The transaction is expected to end in mid 2017.

In addition, LANXESS also announced $200 million stock repurchase measures will be terminated prior to the implementation of the.

Chemtura CEO Craig A. of Rogerson company is optimistic that: "this acquisition will further expand the influence of Chemtura in the global scope; the company's shareholders, employees and customers will benefit from."

LANXESS CEO Matthias Zachert is confident: "through this acquisition, we have established a leading position in the market, a number of additives; portfolio profitability will strive for further improvement."

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