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Lanxess to Buy DSM Elastomers for €310 Million

6:44 PM MST | December 16, 2010 | . —NANCY SEEWALD

Lanxess says it has agreed to acquire DSM’s elastomers unit for €310 million ($411 million). The purchase price is about six times DSM Elastomers’ estimated 2010 Ebitda, Lanxess says. Lanxess intends to finance the deal with available liquidity and the deal is expected to be accretive to the company’s earnings per share immediately. The acquisition is expected to close in the first few months of 2011, pending regulatory approval. Heitmann: Deal is step toward achieving financial targets. Buying DSM Elastomers will make Lanxess the biggest...

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