BRUSSELS - Solvay has entered into a definitive merger agreement with U.S.-based Cytec to acquire 100 percent of its share capital for $75.25 per share in cash. The total cash consideration will amount to $5.5 billion.
“The proposed acquisition of Cytec marks a major step change in Solvay’s portfolio upgrade. It is a unique opportunity for Solvay to boost its customer offerings in light-weighting with advanced materials in aerospace and automotive, as well as to strengthen its know-how with activities in mining chemicals,” said Jean-Pierre Clamadieu, CEO of Solvay.