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    Home > Chemial News > Company News > Standard Industries acquires specialty chemicals company Grace for $7 billion

    Standard Industries acquires specialty chemicals company Grace for $7 billion

    Echemi 2021-04-28

    On April 16, American specialty chemicals and materials company Grace (WR Grac) and Standard Industries Holdings Inc jointly announced that the two parties have reached a final agreement that Standard Industries Holdings will acquire Grace in an all-cash transaction. Valued at approximately US$7 billion, including Grace's upcoming acquisition of fine chemicals.

    According to the terms of the agreement, Standard Industrial Holdings will acquire all outstanding shares of Grace’s common stock for $70 per share in cash. The purchase price is approximately 59% higher than Grace's closing price of $44.05 on November 6, 2020.

    The two parties expect the transaction to be completed in the fourth quarter of 2021. After the transaction is completed, Grace will become a private company and Grace’s common stock will no longer be listed on the New York Stock Exchange.

    Grace has more than 3,900 employees, providing services to customers in 70 countries around the world, including two major departments through catalyst technology and material technology. Grace's catalyst technology department develops and produces catalysts used in oil refining, petrochemical and other chemical fields; Grace's material technology department focuses on the field of specialty silica gel, which is widely used in coatings, consumer products, industrial and pharmaceutical fields.

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