Chemtura is a leading U.S. supplier of additives. The acquisition of Chemtura will more than double the size of LANXESS’s additives business.

Under the terms of the agreement, Chemtura shareholders will receive USD 33.50 per share in cash for each outstanding share of common stock held, which represents an 18.9 percent premium to the stock’s closing share price of USD 28.18 on September 23, 2016. The transaction with an enterprise value of approximately EUR 2.4 billion will be financed by LANXESS mainly through senior and hybrid bonds, as well as from existing liquidity. Just a few days after the planned acquisition was announced, LANXESS successfully placed two euro benchmark bonds on the European capital market. Both bonds, with a volume of EUR 500 million each, are listed on the Luxembourg Stock Exchange and will be traded in denominations of EUR 1,000 nominal value. Placement of the bonds attracted wide interest from national and international investors and was significantly oversubscribed. “The quick and successful placement of the two bonds confirms our high credit-worthiness and our good access to the capital markets,” said Michael Pontzen, Chief Financial Officer of LANXESS “With this placement, we were able to take advantage of the currently favorable market environment for corporate bonds. In this way, we are already replacing a portion of the bridge financing for the planned acquisition of Chemtura at attractive terms.” Chemtura and LANXESS continue to be separate and independent companies until closing.

Two Chemtura product segments are to be integrated in the Advanced Industrial Intermediates business unit and the High Performance Materials segment. Together with Rhein Chemie Additives, a new segment will be established: Performance Additives.

Latest Press Releases

Chemtura shareholders approve acquisition by LANXESS

Cologne – Specialty chemicals company LANXESS (FRA: LXS) has taken a significant step forward in the planned acquisition of U.S. chemical company Chemtura (NYSE: CHMT). Chemtura’s shareholders approved the merger at a special meeting in Philadelphia, United States.

LANXESS successfully issues first hybrid bond

2016-11-29 | Cologne – Specialty chemicals company LANXESS today successfully issued a hybrid bond with a volume of EUR 500 million on the European capital market. The proceeds of the transaction are to be used for the financing of the planned acquisition of US-based chemical company Chemtura.

LANXESS successfully places two EUR 500 million corporate bonds

2016-09-29 | Cologne – LANXESS announced today that it has successfully placed two Euro benchmark bonds on the European capital market for the financing of the planned acquisition of the US-based specialty chemicals group Chemtura.