DL Chemical Co., Ltd., a subsidiary of DL Holdings Co., ltd., announced that, it is going to acquire 100 percent of Kraton Corporation, a leading producer of the specialty polymers and products, which are high-value and bio-based products derived from the co-products of pine wood pulping, and this acquisition is going to be in all cash transaction along with implying an enterprise value of around 2.5 billion dollars.
Under the terms of the merger agreement, the stockholders of Kraton are going to be receiving 46.50 dollars in cash for each share of the company’s common stock which they are owning, and as a part of the transaction, the company ‘DL Chemical’ has also conveyed that, they have been fully committed to the financing.
Kevin M. Fogarty, president and CEO of Kraton Corporation said, followed by the extensive review of a wide range of the strategic alternatives, that had been focused on maximizing the value for the benefits of their stockholders, and the board of Kraton has also been determined that, the sale of the Kraton Corporation to the DL Chemical has been in the best interest of the stockholders of Kraton.
Sang Woo Kim, CEO and vice chairman of DL Chemical said, they have been highly interested in the specialty polymer and business of bio-based chemical of Kraton Corporation, and this combination is going to be allowing them to provide their customers with a wider range of the innovative products, along with the addition of the ability for serving a diverse range of the end markets in more than 70 countries across the world.
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