Chemtura to Be Acquired by LANXESS in ~$2.5 Billion All-Cash Transaction

PHILADELPHIA--(BUSINESS WIRE)--Chemtura Corporation (NYSE:CHMT) (Euronext Paris: CHMT) (“Chemtura”) today announced that it has entered into a definitive agreement pursuant to which LANXESS AG (“LANXESS”), a global specialty chemicals company, will acquire Chemtura in a transaction valued at approximately $2.5 billion. Under the terms of the agreement, Chemtura shareholders will receive $33.50 per share in cash for each outstanding share of common stock held, which represents an 18.9% premium to the stock’s closing share price of $28.18 on September 23, 2016. The respective boards of both companies have unanimously approved the transaction.