Solvay Reinvests

Solvay has lined up its desired chemical reinvestment, using proceeds from the February 2010 sale of its pharma business, with a €3.4 billion ($4.9 billion) cash offer for Rhodia ( p. 8). Rhodia had not turned up much in Solvay deal speculation, which has included just about every European chemical maker in Europe with a market cap below €10 billion. Rhodia does fit nicely the criteria Solvay identified, including improving its presence in emerging economies, lowering its energy and environmental footprint, and...

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