Under the agreement, the new holding company will merge with ISP, and the holders of ISP's publicly traded shares will be entitled to receive $10.30 per share in cash. The merger is valued at approximately $130 million. Heyman currently owns approximately 80.9% of ISP's outstanding shares.

ISP is a manufacturer of specialty chemicals and mineral products, including monomers, dispersing agents, solvents, and reactive diluents used in coatings.