Eastman Chemical buys Solutia for USD4.7bn

Mon Jan 30 2012, 14:14 PM

Eastman Chemical is paying USD4.7bn to acquire Missouri-based Solutia. Under the deal, which includes the assumption of Solutia’s debt, stockholders will receive USD22 in cash and 0.12 shares of Eastman common stock in return for each of their shares. This represents a 42% premium on the firm’s closing price on November 26.

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