KINGSPORT, TN/ST. LOUIS, MO – Eastman Chemical Co. and Solutia Inc. have entered into a definitive agreement under which Eastman will acquire Solutia, a global leader in performance materials and specialty chemicals. The total transaction value of the deal is approximately $4.7 billion, including the assumption of Solutia’s debt.
Eastman and Solutia share several key fundamentals, such as complementary technologies and business capabilities, a polymer science backbone, similar operating philosophies, and a high-performance culture. In addition, the overlap of key end-markets is expected to provide opportunities for growth.