Squire Sanders Helps Cytec Drop $439M In Cash For Umeco

Law360, New York (April 12, 2012, 1:03 PM EDT) -- Global chemicals company Cytec Industries Inc. will pick up U.K.-based composites and specialty materials maker Umeco PLC in a $439 million cash deal that will boost its presence in the aerospace and industrial sectors, Cytec announced Thursday.

Cytec offered 550 pence per Umeco share, a 46.3 percent premium over the stock's Wednesday closing price and a 61.3 percent premium on its average closing price over the last six months, according to Umeco investor documents. Cytec said it planned to finance the acquisition with cash on hand,...
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