Eastman’s Acquisition of Solutia Set to Close in Early July

Rogers: Closing in on Solutia. Eastman Chemical and Solutia say they expect Eastman’s $4.7-billion takeover of Solutia to close the first week of July (CW, Feb. 13, p. 7). Solutia last week set a June 29 special meeting of stockholders to vote on the deal. Eastman, meanwhile, moved to secure long-term financing, announcing a $2.4-billion public bond offering. Eastman and Solutia also announced last week that the European Commission cleared the deal, which was the final antitrust clearance required. The transaction has been cleared by the U.S., Chinese...

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