Lanxess chemical Buys Chemtura for 2.4 billion euros

The German chemical company Lanxess announced on Monday an agreement to buy the American Chemtura for 2.4 billion euros.
The purchase, at a price of $ 33.50 per share, is the most important in the history of Lanxess and will serve to deploy in North America, indicated in a statement that the company, which had been a subsidiary of Bayer.
Chemtura, with 1.5 billion euros of turnover and about 2,500 employees, specializes in additives to delete fire and lubricants.
The merger, financed in cash and debt, will become effective in 2017 and will allow save 100,000,000 euros in 2020, with an immediate positive effect for Lanxess in the first year.
The German company highlights that the price it offers is 18.9% higher than the price of the shares of Chemtura last Friday at the close of the stock market.
Encouraged by the low price of raw materials, the world of chemistry sector is experiencing a period of mergers, such as Bayer and Monsanto or DuPont and Dow Chemical.