Mitsubishi Rayon Buys Lucite to Become Leader in MMA

Mitsubishi Rayon has confirmed CW’s recent report that the company will acquire Lucite International (Southampton, U.K.) (CW, Nov. 3/10, p. 6). Mitsubishi Rayon has agreed with Lucite’s biggest shareholder, private equity firm Charterhouse Capital Partners, to buy all of Lucite for $1.6 billion in cash, including refinancing of outstanding debt. The deal is expected to close by the end of January 2009, subject to approval by the relevant authorities. Charterhouse owns 81.6% of Lucite, and Ineos is the second-biggest Lucite shareholder with 11.5%...

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