Arch Chemicals/Lonza Group
On July 11, 2011, Lonza Group Ltd and Arch Chemicals, Inc. (NYSE: ARJ) report that they have signed an agreement pursuant to which Lonza has agreed to commence a tender offer for 100 percent of Arch Chemicals' outstanding shares of common stock at a price of $47.20 per share in cash.
Based on the offer price for all the outstanding shares, Arch Chemicals' enterprise value would be USD 1.4 billion (approximately CHF 1.25 billion).
Lonza expects to commence the tender offer by 15 July 2011 and to complete the tender offer later in 2011.
JP Morgan and Morgan Stanley act as financial advisers for Lonza and Arch Chemicals, respectively. Jenner & Block LLP is providing legal counsel in connection with the transaction to Lonza, and Cravath Swaine & Moore LLP is providing legal counsel to Arch Chemicals.
Based on the offer price for all the outstanding shares, Arch Chemicals' enterprise value would be USD 1.4 billion (approximately CHF 1.25 billion).
Lonza expects to commence the tender offer by 15 July 2011 and to complete the tender offer later in 2011.
JP Morgan and Morgan Stanley act as financial advisers for Lonza and Arch Chemicals, respectively. Jenner & Block LLP is providing legal counsel in connection with the transaction to Lonza, and Cravath Swaine & Moore LLP is providing legal counsel to Arch Chemicals.
