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Markets :: Specialty Chemicals :: Electronic chemicals
OMG to Acquire Rockwood’s Electronics Unit
9:27 AM MDT | October 16, 2007 | Kate Phillips and Rob Westervelt
OM Group (OMG) says it has agreed to acquire Rockwood Holdings’ electronics businesses, excluding its French electronics chemicals unit, for roughly $265 million in cash. The deal is expected to close by year-end and is subject to regulatory approval. Rockwood’s French unit is subject to a put option for an additional acquisition price of about $50 million. OMG says it expects the transaction to be accretive to its 2008 earnings. “It’s up to Rockwood to put the [French] business to us, and if they choose to, we have negotiated that...
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