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Services :: Financial
Solutia Completes Southwall Offer
10:21 AM MST | November 23, 2011 | Vincent Valk
Solutia has completed its tender offer for Southwall Technologies (Palo Alto, CA), an energy-efficient films maker, the company says. The $13.60/share cash offer was accepted by 95.7% of Southwall shareholders. The acquisition, the total price of which is $113 million, was first announced in October, and is being funded entirely with cash on hand. The deal should be accretive by about 5 cts/share to Solutia’s 2012 earnings, according to Frank Mitsch, analyst with Wells Fargo Securities (New York). The deal “will specifically improve margins for...
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