—Indorama snags Huntsman intermediates and surfactants businesses “Acquisition advances polyester expert’s diversification ambitions” In an effort to diversify beyond its core polyester business, the acquisitive Thai chemical maker Indorama Ventures has struck its largest deal yet: the purchase of Huntsman Corp.’s chemical intermediates and surfactants businesses for $2.1 billion. Indorama says the acquisition advances its goal to be a global, diversified chemical company. Huntsman says the deal will allow it to focus on businesses such as polyurethanes and advanced materials. Pending regulatory approvals, the sale should close by the end of the year. The acquisition will bolster Indorama’s US footprint with the addition of facilities in Texas in Chocolate Bayou, Dayton, and Port Neches.
by Marc S. Reisch | August 08, 2019
The acquisition is the latest in a series of six large deals totaling $9.4 billion that Platform has arranged since it was formed two years ago. Some observers wonder if Platform can keep up its hectic acquisition pace, maintain its credit rating, and integrate the operations it has acquired without losing business discipline.
by Marc S. Reisch | July 16, 2015
—BASF Inks Bid For Cognis “Specialties: Latest acquisition will strengthen BASF’s position in home and personal care” In a deal valued at $3.8 billion, BASF is buying personal care chemical maker Cognis from the private equity firms GS Capital Partners, Permira Funds, and SV Life Sciences. The acquisition has been widely anticipated.
by Alexander H. Tullo | June 28, 2010
—Chemical M&A rebounded in 2018 “Tax cuts juiced deal-making, but trade was a drag on the fourth quarter” Chemical firms spent $100 billion on mergers and acquisitions in 2018, up 56% from 2017 but far short of the $193 billion they spent in 2016, according to the consulting firm PricewaterhouseCoopers. The number of acquisitions was down 8% last year compared with 2017. Overall, 2018 was a solid year for snapping up pricey assets, PwC says. Average deal size jumped 59% to $213 million. And a large number of acquisitions were priced above $1 billion. One likely reason for the big spend was the cut in US corporate tax rates, enacted in December 2017.
by Melody M. Bomgardner | January 24, 2019
—Makhteshim Makes Two Acquisitions “” Off-patent crop protection chemicals firm Makhteshim Agan has signed definitive agreements to buy 100% of Mexico-based Ingenieria Industrial and 51% of South Korea-based JK Inc. Financial details were not disclosed. Buying Ingenieria, a maker of copper-based pesticides with annual sales of $30 million, allows Israel-based Makhteshim to extend operations into Mexico.
by Marc S. Reisch | November 22, 2010
Arkema expects the acquisition to create “significant” pre-tax savings and a boost in net earnings per share in the first year after completion.The deal is in keeping with an overall trend of increased merger and acquisition activity in the chemical sector, says Bernd Elser, managing director for chemicals at the consulting firm Accenture.
by Alex Scott | September 02, 2021
—Mergers And Acquisitions: Actavis will acquire antibiotic maker Durata “” In the latest chapter in the saga of the antibiotic dalbavancin, Actavis will acquire its developer, Durata Therapeutics, for $675 million. Dalbavancin, marketed as Dalvance, was approved in May after a nearly 20-year odyssey from discovery to market, comprising many owners and regulatory setbacks. Durata paid a mere $10 million in 2009 to buy the compound from Pfizer, which had acquired it in 2005 through the $1.9 billion acquisition of Vicuron. Vicuron first filed for FDA approval of dalbavancin in 2004 as a treatment for serious skin infections. But the drug, a second-generation semisynthetic lipoglycopeptide, languished after the agency changed the goalposts for antibiotic studies.
by Lisa M. Jarvis | October 13, 2014