Lonza to Acquire Arch Chemicals for $1.4 Billion

Lonza has reached agreement to acquire biocides maker Arch Chemicals (Norwalk, CT) in a deal valued at $1.4 billion. Lonza’s offer represents a 12% premium to Arch’s closing price on July 8, the last trading day before the deal was announced, and a 37% premium to its average closing price over the prior 30 trading days. Lonza launched a tender for all of Arch’s outstanding shares on July 15 for $47.20/share in cash. The deal was sparked by discussions initiated by Arch about a potential acquisition of Lonza’s biocides business. Those...

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