Japanese Chemical Firms Announce $2B Merger

Law360, New York (November 19, 2009, 5:31 PM EST) -- Japanese chemical firm Mitsubishi Chemical Holdings Corp. has announced plans to acquire Mitsubishi Rayon Co. in a deal potentially valued as high as $2.4 billion, seeking to create a leading global chemical producer to take on growing competition.

The companies announced the merger agreement on Thursday, stating that they planned to conduct the deal either through a tender offer or stock swap, depending on investor response. The goal of the deal is to make Mitsubishi Rayon a wholly owned subsidiary of Mitsubishi Chemical, the companies said....
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