Longbow Research Downgrades Chemtura Corporation (CHMT) to Neutral
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LANXESS to Acquire Chemtura (CHMT) in ~$2.5B Deal
September 26, 2016 6:03 AM EDTChemtura Corporation (NYSE: CHMT) announced that it has entered into a definitive agreement pursuant to which LANXESS AG (LANXESS), a global specialty chemicals company, will acquire Chemtura in a transaction valued at approximately $2.5 billion. Under the terms of the agreement, Chemtura shareholders will receive $33.50 per share in cash for each outstanding share of common stock held, which represents an 18.9% premium to the stocks closing share price of $28.18 on September 23, 2016. The respective boards of both companies have unanimously approved the transaction.
For the past year, our management team and Board of Directors... More
Germany's Lanxess to buy U.S. chemical firm Chemtura for $2.7 billion
September 25, 2016 7:35 PM EDTBy Ludwig Burger
FRANKFURT (Reuters) - Lanxess AG is to buy U.S. speciality chemical company Chemtura (NYSE: CHMT) for 2.4 billion euros ($2.69 billion) including debt in the German company's largest ever takeover, moving it further away from its main synthetic rubber business.
Lanxess's offer of $33.50 per share is a premium of about 19 percent to the Philadelphia-based company's share-price close on Friday.
The world's largest synthetic rubber maker will use existing funds and new debt... More
