Markets :: Basic Chemicals :: Petrochemicals :: Propylene
Chemical Industry Weekly News Round-Up, Jan. 27
3:06 PM MST | January 27, 2012 | Vincent Valk
This Week on CW: Eastman Chemical announced plans to acquire Solutia for $4.7 billion in cash and stock, including assumed debt. The purchase price of $27.65/share, including cash and stock, represents a 42% premium on Solutia’s closing price on Thursday. The deal will create a company with proforma sales in excess of $9 billion/year. Earnings at diversified and commodity firms were decidedly mixed, with many companies experiencing both higher selling prices and volume declines. Specialty chemical companies, however, generally beat estimates. An unnamed...
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