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Kraton rethinks merging with LCY Chemical's SBC business
5:26 AM MDT | July 1, 2014 | Deepti Ramesh
Kraton Performance Polymers today notified LCY Chemical (Taipei) that its board of directors intends to withdraw its recommendation that Kraton stockholders approve the previously announced merger with LCY's styrenic block copolymer (SBC) operations. The Kraton board cites down operating results for LCY’s SBC business in the first quarter and the decline in its forecast results together with the related drop in Kraton's stock price and negative reactions from stockholders following the 24 June disclosure. Kraton announced on 24 June that the planned merger...
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