| From: richardred | 6/3/2013 9:35:46 AM | | | | | | India's Birla Chemicals to acquire Solaris Chemtech's chlor-alkali assets 6:23 AM MDT | June 3, 2013 | Francinia Protti-Alvarez
Aditya Birla Chemicals (ABC; Mumbai), a subsidiary of Aditya Birla Group, approved the acquisition of the chlor-alkali and phosphoric acid division of Solaris Chemtech Industries (Gurgaon, India), a subsidiary of the Avantha Group (New Delhi), for a cash consideration of 1.53 billion rupees ($26.9 million), ABC has announced. "This strategic acquisition further strengthens our position in the chlor-alkali business. It will take our chlor-alkali business on a higher growth trajectory and marks our entry into a new market segment, phosphoric acid.
chemweek.com |
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| To: richardred who wrote (126) | 12/15/2013 11:31:14 AM | | From: richardred | | | | France's KemOne receives two takeover bids at court hearing
London (Platts)--13Dec2013/706 am EST/1206 GMT
France's KemOne has received two takeover bids, the company confirmed late Thursday in a statement.
Private buyout firm OpenGate Capital and private individual Alain de Krassny confirmed their takeover bids at a hearing held Thursday at the Commercial Court of Lyon.
There will be a further court hearing Wednesday and the acquirer of KemOne will be selected on this date, the company said.
KemOne SAS, an upstream business that makes chlorine, caustic soda and PVC, was put into administration by the commercial court of Lyon on March 27.
platts.com |
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| From: richardred | 11/30/2014 10:23:25 PM | | | | | | Hanwha Chemical drops review of buying Dow Chemical chlorine biz.SEOUL, Dec 1 (Reuters) - South Korea's Hanwha Chemical is no longer considering buying parts of Dow Chemical's chloro-alkali business, a spokesman for Hanwha Group said on Monday.
South Korea's Hanwha Chemical had picked Credit Suisse to advise on possible purchases from Dow Chemical's chloro-alkali business but its interest is still in the early stages, Hanwha said earlier this year.
Hanwha Chemical and two group affiliates said it will buy stakes in Samsung Group's four chemical and defence firms for 1.9 trillion won ($1.72 billion) last week.
The Hanwha spokesman said the stake purchases in Samsung firms are expected to boost its petrochemical business, no longer making it necessary to consider Dow Chemical's businesses.
finance.yahoo.com |
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| From: richardred | 3/27/2015 9:04:29 AM | | | | | | OLIN trading around 35 premarket on the announcement.
Dow Chemical, Olin in $5B cash-and-stock deal
Dow Chemical to separate part of business and combine it with Olin in $5B cash-and-stock deal
Associated Press
40 minutes ago
MIDLAND, Mich. (AP) -- Dow Chemical is breaking off a significant part of its chlorine operations in a deal with Olin Corp. valued at $5 billion.
Dow has been under pressure from the hedge fund Third Point LLC to split its specialty chemical and petrochemical businesses.
Dow CEO and Chairman Andrew Liveris said in a statement that the Olin deal has helped the Midland, Michigan-based company exceed its target to divest $7 billion to $8.5 billion of non-strategic businesses and assets.
Its stock rose more than 5 percent in Friday premarket trading.
Dow said that it would join its chlor-alkali and downstream derivatives businesses with Olin Corp. in a cash-and-stock transaction. The transaction includes Dow's U.S. Gulf Coast chlor-alkali and vinyl, global chlorinated organics and global epoxy businesses.
The deal includes $2 billion of cash and cash equivalents to be paid to Dow; an estimated $2.2 billion in Olin common stock and about $800 million of pension assumptions and other liabilities.
The new company will have annual revenue of nearly $7 billion.
Shareholders of Dow Chemical Co. will receive about 50.5 percent of Olin's stock, with existing Olin shareholders owning about 49.5 percent.
Clayton, Missouri-based Olin said that it anticipates annual cost savings of at least $200 million within three years. Joseph Rupp will remain as Olin's CEO. Its board will include the existing nine Olin directors and three new members to be designated by Dow.
Shares of Olin surged more than 26 percent before the market open.
The deal, which is targeted to close by year's end, still needs approval from Olin shareholders.
Dow and Olin also announced a separate, 20-year long-term capacity rights agreement for the supply of ethylene by Dow to Olin.
finance.yahoo.com |
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| To: richardred who wrote (131) | 3/27/2015 9:08:31 AM | | From: richardred | | | | | What I find most interesting is OXY and Olin wanted to combine their CA operations many years ago. The FTC ruled against it. It will be interesting to see if this bigger combo deal gets FTC approval. |
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| To: richardred who wrote (132) | 9/22/2015 12:51:18 PM | | From: richardred | | | | After being out of Olin since 2013. I felt compelled to have my first buy in a very long time to be OLN. Back when I was at Individual Investors. The FTC wouldn't allow this previous purposed merger of CA operations to go through with Dow. From memory, they ruled anti competitive due to to big a market share of CA. I think OLN eventually, if and when the economy expands beyond its current stagnate levels. Olin will dominate in the very high margin business of chlor alkali. To be sure commodities are way out of favor. Meanwhile I will have a covered stagnate yield to keep me company for awhile. It also doesn't hurt that a hedge fund has now built over a five percent stake.
P.S Possible speculative appeal. However, Winchester division, unless sold or spun off would be a sticky issue on any foreign sale IMO. A spin off of Winchester seems more likely than ever. Olin has a history of spin offs. The Last two already acquired by acquisition minded hunter companies.(Primex & Arch Chemical)
siliconinvestor.com |
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