Lanxess Is Buying Chemtura for About $2.7 Billion

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Lanxess AG


pronounced on Sunday it would buy specialty chemical association Chemtura


for about $2.12 billion in money to urge a German company’s additives business.

Lanxess’s offer of $33.50 for any Chemtura share, represents a reward of about 19% to a Philadelphia-based company’s tighten on Friday.

The world’s largest fake rubber builder will use existent supports and new debt to buy Chemtura in a understanding with an craving value of about 2.4 billion euros ($2.69 billion), Lanxess pronounced in a statement.

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The play of both companies have unanimously authorized a deal, that is approaching to tighten around mid-2017, Chemtura pronounced in a apart statement.

Lanxess also pronounced it will no longer pursue the earlier-announced share buyback of around 200 million euros.

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