Status: Upcoming/New Filing
Acquirer: Lanxess AG (Germany)
Acquired: Chemtura Corp. (U.S.)
Value: Approx. US$2.5 billion
Industry: Specialty Chemicals
On September 25, 2016, Chemtura Corp., a U.S. based global manufacturer and marketer of specialty chemicals, announced that it has entered into a definitive agreement whereby Chemtura would be acquired by Lanxess AG, a global specialty chemicals company based in Germany, in a transaction valued at approximately US$2.5 billion (see Chemtura’s 8-K SEC Filing here; see also Chemtura’s press release, dated September 25, 2016). The acquisition, as described in the Chemtura Corp. form 8-K, is expected to close around mid-2017, and is subject to clearance by CFIUS, among other regulatory requirements. The combination is expected to make Chemtura “part of a much larger, stronger global enterprise with the resources to fully support a more diverse suite of specialty chemicals products and services,” according to Craig A. Rogerson, President, Chief Executive Officer and Chairman of the Board of Chemtura (see Lanxess press release here, and CNBC report here).