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.
Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)
Dow announced the price increase of MDI next week! The May price increase letter is fully effective, and the prices of BASF, Chemours and other products have increased!
The latest progress of the largest coal chemical project under construction with a total investment of 126.2 billion yuan
EVA imports in March increased year-on-year and month-on-month
2021-2025 stevia extract industry in-depth report
The chemical plant collectively shuts down for maintenance! The price increase is coming again!
Dow MDI product price increase on May 10! BASF, Chemours and many other companies product price increase in May officially effective.