Chemtura shareholders approve acquisition by Lanxess

Lanxess had inked a pact to buy the additives maker Chemtura for $ 2.5 billion in September 2016

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Lanxess

BS B2B Bureau Cologne, Germany

Last Updated : Feb 04 2017 | 12:11 PM IST

The shareholders of the Philadelphia (USA) based additives maker Chemtura on Wednesday gave their approval for the proposed the merger of the company with German specialty chemicals firm Lanxess. As per the deal, signed in September last year, Lanxess agreed to buy Chemtur in a transaction valued at approximately $ 2.5 billion.

Commenting on the latest development, Matthias Zachert, chairman of the board of management of Lanxess AG, said, “We are pleased that Chemtura’s shareholders are so supportive of the planned acquisition. Their approval is an important milestone on Lanxess’ route to becoming one of the major players in the field

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