29 July 2015
DETAILS
has entered into a definitive merger agreement with
to acquire 100% of its share capital
for US$ 75.25 per share in cash.
The total cash consideration will amount to US$5.5 billion,
corresponding to an enterprise value of US$ 6.4 billion
and representing a 2015 estimated EBITDA multiple of 14.7x
and of 11.7x when considering synergies potential
linked to the transaction.
The transaction price per share
represents a premium of 28.9%
compared to the closing price of Cytec on 28th July 2015 and
a premium of 26.9%
compared to the volume weighted average
closing share price over the last three months.
Cytec’s and Solvay’s boards of directors
have unanimously recommended the transaction
VIEW FULL PRESENTATION, SOLVAY ACQUIRES CYTEC
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