(MENAFN) Germany Lanxess AG, the world's largest synthetic rubber maker, said it would buy specialty chemical company Chemtura Corp for about USD2.12b to improve the German company's additives business.
Accordingly, Lanxess offered USD33.50 for each Chemtura share, represents a premium of about 19% to the Philadelphia-based Chemtura firm.
Lanxess confirmed in a statement that it will use existing funds to buy Chemtura in a deal with an enterprise value of about USD2.69b.
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