The new company will be owned 51 percent by Crompton shareholders and 49 percent by Great Lakes shareholders on a fully diluted basis. Robert L. Wood, currently chairman, president and CEO of Crompton, will serve in those capacities for the combined company, which will be headquartered in Middlebury.
Crompton and Great Lakes Chemical Create Major Specialty Chemicals Company
May 1, 2005
MIDDLEBURY, Conn., and INDIANAPOLIS - Crompton Corp. and Great Lakes Chemical Corp. have entered into a definitive merger agreement for an all-stock merger transaction, which will create the third-largest publicly traded U.S. specialty chemicals company. The new company will hold leading positions in high-value specialty chemical niche businesses.