Apollo to Merge Momentive and Hexion

Private equity firm Apollo Management (New York) says it is merging Momentive Performance Materials and Hexion to create one of the world’s largest specialty chemicals and materials firm. The combined company is expected to have $7.5 billion of annual revenue and adjusted Ebitda of $1.24 billion. The deal is expected to close October 1. Morrison: Deal creates $7.5 billion firm. Apollo owns a controlling interest in both Hexion and Momentive. The newly formed company will operate as Momentive Performance Materials, but the capital structure of both fir ms...

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