Chemtura's shareholders approve acquisition by Lanxess. Issue 4 (April 2017)

• Record Type: Journal Article
• Is Part Of: Additives for polymers. Issue 4(2017)
• Page Start: 9
• Publication Date: 2017-04
• Subjects: Polymers -- Additives -- Periodicals; 620.192
• DOI: 10.1016/S0306-3747(17)30058-1
• Languages: English
• ISSNs: 0306-3747

Abstract

Abstract : At a special meeting held on 1 February 2017 in Philadelphia, Chemtura stockholders voted to approve the previously announced merger agreement under which Lanxess AG will acquire the company for €2.4 billion [ ADPO, November 2016]. Almost 99.9% of the votes cast at the special meeting were in favour of the merger, representing 81.8% of Chemtura's outstanding common stock. Shareholders will receive US$33.50 (€31.1) in cash for each outstanding share when the transaction closes, which is expected in mid-2017.