Basell to Acquire Huntsman for $9.6B
Published: 26 June 2007
by Staff
HOOFDDORP, THE NETHERLANDS and SALT LAKE CITY, UT – Basell will purchase chemicals giant Huntsman Corp. in a deal valued at approximately $9.6 billion, including assumption of debt. The boards for both companies have unanimously approved the deal.
Among Huntsman’s products are conformal coatings and solder masks for electronics assemblies, including the former Ciba and Vantico brands.
The purchase is subject to customary closing conditions, including regulatory approval in the U.S. and in Europe, and approval of Huntsman shareholders. Closing is expected in the fourth quarter.
In 2006, Basell and Huntsman had combined revenues of more than $26 billion and employed approximately 20,900 people. The combined company will have operations on all continents.
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