Vinson & Elkins Steers Huntsman In $1B Rockwood Biz Buy
Law360, New York (September 17, 2013, 11:58 AM EDT) -- Huntsman Corp. will scoop up five chemical businesses from New Jersey-based Rockwood Holdings Inc. for $1.1 billion, an addition the Texas company said Tuesday will strengthen its presence in the inorganic pigment sector.
The acquisition includes Rockwood's titanium dioxide, color pigments, timber treatment chemicals, water chemistry and rubber/thermoplastic compounding businesses, according to the companies. Huntsman will pay $1.1 billion for the units, and will also assume $225 million in pension obligations, making for a deal valued at roughly $1.3 billion, according to the companies.
Rockwood's businesses will boost Huntsman to a top position as a global producer of titanium dioxide, or...
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