Solvay To Acquire Cytec For $75.25 Per Share - Quick Facts

(RTTNews) - Solvay S.A. (SVYSY.PK) announced it has entered into a definitive merger agreement with U.S.-based Cytec to acquire 100% of its share capital for $75.25 per share in cash. The total cash consideration will amount to $5.5 billion, corresponding to an enterprise value of $6.4 billion.

Headquartered in New Jersey with 4,600 employees across the globe, Cytec generated sales of $2.0 billion in 2014. Cytec is among the world leaders in composite materials and in mining chemicals.

Solvay said the acquisition of Cytec will be accretive to Adjusted EPS after the first year and to CFROI in the mid-term.