UPDATE 1-Honeywell spinoff Solstice to buy Element Solutions for $14.5 billion
Solstice Advanced Materials, Inc. SOLS | 0.00 | |
Honeywell Technologies Inc. HON | 0.00 | |
Ribbon Communications, Inc. RBBN | 0.00 | |
Element Solutions Inc ESI | 0.00 |
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July 6 (Reuters) - Honeywell spinoff Solstice Advanced Materials SOLS.O said on Monday it will buy Element Solutions ESI.N at about $14.5 billion, including debt, in a cash-and-stock deal.
The deal comes less than a year after Solstice completed its spin-off from industrial conglomerate Honeywell International HON.O.
The combination would create a larger supplier of materials used in semiconductor manufacturing, electronics and industrial applications.
Element Solutions shareholders will receive $10.00 in cash and 0.500 shares of Solstice common stock for each share of Element common stock.
The transaction is expected to close in the first half of 2027.