Jul. 6 at 12:12 PM
$SOLS $ESI
Solstice to acquire Element Solutions in cash, stock deal valued at
$14.5B
Solstice Advanced Materials (SOLS) and Element Solutions (ESI) announced that they have entered into a definitive agreement for Solstice to acquire Element in a cash-and-stock transaction valued at approximately
$14.5B, including the assumption of net debt. The transaction represents a "significant acceleration" of Solstice's strategy to build an industry-leading advanced materials platform with increased exposure to high-growth electronics, AI infrastructure and other attractive end markets.
"Overall, we believe the combined company will be very well-positioned to benefit from generational tailwinds in high-growth end markets," said David Sewell, President and CEO of Solstice. "Element brings highly complementary capabilities, deep customer relationships and a technical service-led model that expands how we support customers from early-stage development through high-volume manufacturing. This high-performing team brings with it inimitable domain expertise and customer process know-how in addition to a compelling track-record of value creation for shareholders. Together, we expect Element and Solstice to be extremely well positioned to deliver on our customers' growing requirements for signal integrity, thermal management, reliability and performance."
