☰

Bolsa, mercados y cotizaciones

Belgium's Solvay to buy U.S. chemicals firm Cytec


    BRUSSELS (Reuters) - Belgian chemical group Solvay will buy peer Cytec in a deal valuing the U.S. firm and its debt at $6.4 billion, the company said on Wednesday.

    Solvay said in a statement it would pay $75.25 per share for Cytec, which closed at $58.39 on Tuesday.

    The Belgian group will finance the transaction with a 1.5 billion euros ($1.66 billion) rights issue, 1.0 billion euros of hybrid debt instruments and a senior debt issue.

    ($1 = 0.9042 euros)

    (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)