IHS Chemical Week
FINANCIAL

Arsenal Capital to sell Royal Adhesives to American Securities

1:38 PM MDT | May 18, 2015 | Vincent Valk

Private equity firm Arsenal Capital (New York) has announced it is selling Royal Adhesives and Sealants (South Bend, IN) to American Securities (New York), another private equity firm. Terms of the deal, including financial details, have not been disclosed...


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DuPont wins proxy battle with Trian (update)

DuPont this morning won its proxy battle with activist hedge fund Trian Fund Management (New York), as all four of the company's director nominees were re-elected to its board, company officials announced at its annual meeting Wednesday morning. DuPont is...

Azerbaijan methanol producer plans $1-billion bond issue

Azerbaijan Methanol Co. (Azmeco) has announced plans to raise $1 billion through the issue of bonds in London. Highgrove Securities (London), Azmeco's financial advisor, says that securities will be offered to investors in a private placement but that they...

IMCD completes share offering, free float increases

Specialty chemicals distributor IMCD (Rotterdam) says that it has raised €85 million ($95.5 million) through an accelerated bookbuilding offering of 2.6 million newly issued shares at an offer price of €32.79/share. Net proceeds from the share...

Capital Southwest's Whitmore acquires industrial coatings maker

Whitmore Manufacturing Company (Rockwall, TX), a subsidiary of investment firm Capital Southwest (Dallas), says it has acquired Strathmore Products (Syracuse, NY) for an undisclosed sum. Strathmore is a manufacturer of industrial coatings with plants in...

Westlake Partners increases interest in cracker, pipeline affiliate; establishes credit facility

Westlake Chemical Partners (Westlake Partners; Houston) has acquired approximately 2.7% of additional limited partner interest in Westlake Chemical OpCo (OpCo) for approximately $135 million. The transaction, which closed on 29 April, increases Westlake...

Glass Lewis backs Peltz in bid for DuPont board seat

Proxy advisory firm Glass Lewis (San Francisco) has backed Trian founder and CEO Nelson Peltz in his bid for a seat on DuPont’s board of directors. Trian, which owns a $1.8-billion stake in DuPont, has been pushing for a board seat for Peltz since at...

Trian praises ISS recommendations on DuPont

Activist hedge fund Trian management today released a letter to DuPont shareholders praising a report put out by the Institute for Shareholder Services (ISS; Rockville, MD) on Monday. The report endorsed two of Trian’s nominees for DuPont’s board...

A. Schulman to issue special stock to fund Citadel acquisition

A. Schulman is undertaking a public offering of $110 million worth of cumulative perpetual convertible special stock, to help fund the $800-million acquisition of plastics compounder Citadel, which was announced last month. The cumulative perpetual...

ISS backs two Trian seats on DuPont board (update)

The Institute for Shareholder Services (ISS; Rockville, MD), a proxy advisory firm, is recommending that two Trian nominees, including Trian founder and CEO Nelson Peltz, be elected to DuPont’s board of directors. ISS also backs former GE Asset...

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