W.R. Grace & Co. (GRA) Said Near Deal for Albemarle (ALB) Chemistry Arm - Bloomberg
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Grace (GRA) Expands Fast Growing Pharma Portfolio through Acquisition of Fine Chemistry Business
February 25, 2021 5:46 PM ESTW. R. Grace & Co. (NYSE: GRA, the Company) today announced that it has entered into a definitive agreement to acquire the Fine Chemistry Services business (FCS) of Albemarle Corporation (NYSE: ALB) for approximately $570 million, including $300 million paid in cash at closing and $270 million funded through the issuance to Albemarle of non-participating preferred equity of a newly created Grace subsidiary.
The acquisition significantly strengthens and expands Graces existing pharma portfolio. Pharma & Consumer is the largest, fastest growing and most profitable subsegment within Graces Materials Technologies business. FCS adds a comprehensive portfolio of high-value products... More
Albemarle (ALB) Confirms Deal to Sell Fine Chemistry Services Business to W.R. Grace & Co (GRA)
February 25, 2021 5:45 PM ESTAlbemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced that it has signed a definitive agreement to sell its Fine Chemistry Services business to W.R. Grace & Co. for approximately $570 million, consisting of $300 million in cash, and the... More
