Chemical group Solvay will acquire peer Cytec in a deal valuing the U.S. firm and its debt at $6.4 billion, the company said.
The Belgian company said in a statement it would pay $75.25 per share for Cytec, which closed at $58.39 on Tuesday.
Solvay group will finance the transaction with a 1.5 billion euros ($1.66 billion) rights issue, 1.0 billion euros of hybrid debt instruments and a senior debt issue.
The material has been provided by InstaForex Company – www.instaforex.com
Chemical group Solvay will acquire peer Cytec in a deal valuing the U.S. firm and its debt at $6.4 billion, the company said.
The Belgian company said in a statement it would pay $75.25 per share for Cytec, which closed at $58.39 on Tuesday.
Solvay group will finance the transaction with a 1.5 billion euros ($1.66 billion) rights issue, 1.0 billion euros of hybrid debt instruments and a senior debt issue.
The material has been provided by InstaForex Company – www.instaforex.com