Lanxess €2.4 billion acquisition of Chemtura

26/9/2016

Public acquisition

Value:

€ 2.4 billion

Dollar value:

$ 2.69 billion

Status:

Completed

Date:

26/9/2016

Overview:

German Lanxess has acquired US-based fellow chemical company Chemtura in a €2.4 billion deal.
As a result of the deal, Lanxess will no longer continue with its previously planned €200 million shares buyback.
The price tag of the purchase comes to $33.50 per Chemtura share, which will paid for with a combination of existing funds and new debt.
Lanxess is the largest synthetic rubber producer in the world.

Kurt Stumpo - Journalist

Jurisdictions:

United States
Germany

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Industrials and manufacturing

Firms:

Davis Polk & Wardwell

Party: Chemtura Corporation (Target)

Lawyer: William Aaronson

Debevoise & Plimpton

Party: Morgan Stanley (Financial adviser)

Lawyer: Michael Diz

Eversheds Sutherland

Party: Chemtura Corporation (Target)

Lawyer: Matthias Heisse

Skadden Arps Slate Meagher & Flom

Party: Lanxess AG (Acquirer)

Lawyers: Johannes Kremer, Michael Zeidel, Neil Stronski, Peter Atkins

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