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Solstice Advanced Mat (NASDAQ:SOLS) announced an agreement to acquire Element Solutions in a cash-and-stock transaction valued at approximately $14.5 billion, including the ***** umption of net debt, executives said on a conference call discussing the deal.
Under the terms outlined by Solstice President and CEO David Sewell, Element Solutions shareholders will receive $10 in cash and 0.5 shares of Solstice common stock for each Element Solutions share. Sewell said the consideration represents a 15% premium to Element Solutions' closing price on Friday. Upon closing, Element Solutions shareholders are expected to own approximately 44% of the combined company.
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The combined company will operate as Solstice, with Sewell serving as chief executive officer. The board will include 11 directors, including Element Solutions CEO Ben Gliklich and two other designees from the Element Solutions board, subject to standard governance procedures. Solstice said it has fully committed financing in place and expects the transaction to close in the first half of 2027, pending shareholder approvals from both companies, regulatory approvals and other customary closing conditions.
Solstice Advanced Mat (NASDAQ:SOLS) announced an agreement to acquire Element Solutions in a cash-and-stock transaction valued at approximately $14.5 billion, including the ***** umption of net debt, executives said on a conference call discussing the deal.
Under the terms outlined by Solstice President and CEO David Sewell, Element Solutions shareholders will receive $10 in cash and 0.5 shares of Solstice common stock for each Element Solutions share. Sewell said the consideration represents a 15% premium to Element Solutions' closing price on Friday. Upon closing, Element Solutions shareholders are expected to own approximately 44% of the combined company.
→ Scotiabank Sees a New Growth Story for Cloudflare
The combined company will operate as Solstice, with Sewell serving as chief executive officer. The board will include 11 directors, including Element Solutions CEO Ben Gliklich and two other designees from the Element Solutions board, subject to standard governance procedures. Solstice said it has fully committed financing in place and expects the transaction to close in the first half of 2027, pending shareholder approvals from both companies, regulatory approvals and other customary closing conditions.
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