Chemical firm Ashland (Wilmington, DE) will broaden its “green” portfolio through a merger with Hercules (Covington, KY), which markets water-based and water-soluble chemicals, among other products. Ashland, which includes plastics distribution and composite materials supply in its portfolio, will acquire outstanding shares of Hercules for $18.60/share for a total transaction value of $3.3 billion. The resulting company would have combined revenue of $10 billion, with approximately $3.5 billion generated outside North America.
In addition, specialty chemicals will make up 75% of combined earnings and serve as Ashland’s “primary platform for future growth”, according to a release. Hercules’ Aqualon business supplies rheology modifiers, which are used to alter the physical properties of water-based systems. Aqualon’s additive products are water-soluble polymers derived from renewable materials, hence the sustainable appeal.—[email protected]
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