Industry News

Solvay to Create with Rhodia a Major Player In Chemicals

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Solvay and Rhodia announced on April 4, 2011 the signing of a framework agreement according to which Solvay will launch a friendly cash offer for 100% of the share capital of Rhodia.      The cash offer at €31.60 per share (ex dividend of €0.5 per share) values the equity of Rhodia at €3.4 billion and the enterprise value at €6.6 billion, representing a REBITDA multiple of 7.3x. The offer represents a premium of 50% compared to the closing price of Rhodia on April 1, 2011 and a premium of 44% ...

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