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Less than a month after Standard Industries acquired Grace, a specialty chemical and materials company, for $7 billion, the U.
S.
chemical industry has seen another major merger and acquisition
.
On May 11, Prince International announced that it would acquire Ferro for $22 per share in cash, a transaction valued at about $2.
1 billion (approximately RMB 13.
55 billion)
.
After the acquisition, Flow will merge with Chromaflo Technologies, a provider of colorant technology solutions, Prince said
.
Under the terms of the deal, Prince will acquire all of Flow's outstanding common stock for $22 per share in cash
.
The transaction is expected to close in the first quarter of 2022, subject to approval by Flow shareholders, as well as relevant regulatory approvals
.
Prince is a specialty chemicals, minerals and industrial additive manufacturer employing approximately 1,200 people at 21 facilities on 6 continents
.
Flow Corporation is a provider of technical functional coatings and color solutions
.
Industry consolidation has been one of the key themes in the world chemical industry, and chemical M&A transactions have seen a recent recovery
.
Industry consolidation has been one of the key themes in the world chemical industry, and chemical M&A transactions have seen a recent recovery
.
On April 16, American specialty chemical and materials company Grace and Standard Industrial Holdings Co.
, Ltd.
jointly announced that the two parties have reached a definitive agreement, and Standard Industrial Holdings will acquire Grace in an all-cash transaction valued at approximately US$7 billion (approximately RMB 454).
100 million), including Grace's pending acquisition of fine chemicals
.
The parties expect the transaction to close in the fourth quarter of 2021
.
After the transaction closes, Grace will become a private company and Grace's common stock will no longer be listed on the New York Stock Exchange
.
