• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Purdue’s Xiulin Ruan Develops World’s Whitest and Coolest Paint

    Aerospace Coatings

    Biocides Directory

    Lab & Testing Equipment Directory

    Europe’s Top Paintmakers Pull Themselves Up Further
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    PPG Opens $30-Million Battery Pack Application Center in China

    Fact.MR: Steel Pipe Coatings Market To Hit $14.0 Billion By 2033

    Omya Extends Lightweight Fillers Portfolio with the Acquisition of Bublon

    OQ Chemicals Launches Biobased Oxbalance TCD Alcohol DM

    Covestro Signs FIrst Major Renewable Energy Agreement for its U.S. Operations
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    PPG Opens $30-Million Battery Pack Application Center in China

    Fact.MR: Steel Pipe Coatings Market To Hit $14.0 Billion By 2033

    AkzoNobel Powder Coatings Enhances Digital Services with Launch of My Interpon Portal

    PPG Opens Color Creation Lab with Chery Automobile in China

    Sherwin-Williams Launches Ultra-High-Solids Epoxy
    Additives
    Binders
    Pigments
    Solvents

    Omya Extends Lightweight Fillers Portfolio with the Acquisition of Bublon

    OQ Chemicals Launches Biobased Oxbalance TCD Alcohol DM

    Indorama Ventures and Carbios Reaffirm Partnership to Build PET Biorecycling Plant

    Evonik's TEGO Airex 923 Wins 2023 Ringier Technology Innovation Award

    120 Years HOFFMANN MINERAL - Success Through Innovation and Responsibility
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Siltech Corporation

    Active Minerals

    Shepherd Color Company, The

    Arkema

    Clariant Additives
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    66th Annual Sink or Swim

    Middle East Coatings Show

    2023 CoatingsTech Conference

    Greenbuild International Conference + Expo

    The Gulf Coatings Show
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Siltech Corporation

    Active Minerals

    Shepherd Color Company, The

    Arkema

    Clariant Additives
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • China Report
      • India/Asia Pacific Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Glossary
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    Univar Acquires Nexeo for $2 Billion

    ...

    Univar Acquires Nexeo for $2 Billion
    09.17.18
    Univar Inc., a global chemical and ingredient distributor and provider of value-added services, and Nexeo Solutions, Inc., a leading global chemicals and plastics distributor, jointly announced they have entered into a definitive agreement for Univar to acquire Nexeo in a cash and stock transaction valued at approximately $2 billion, including the assumption of Nexeo's debt and other obligations, or $11.65 per Nexeo share, subject to adjustment as described below. 
     
    "This transformational combination is designed to create the premier global chemical and ingredients distributor, with exciting opportunities for our customers, suppliers, employees, and investors,” Univar President and CEO David Jukes said. “Together, we will drive growth and shareholder value with the largest North American sales force in chemical and ingredients distribution, the broadest product offering, and most efficient supply chain network in the industry. We expect the transaction to be accretive to earnings and cash flow beginning in the first full year post closing and to generate $100 million of annual run rate cost savings by the third year following close and reduce annual capital expenditures by $15 million immediately.
     
    "By combining the best capabilities, talent, and resources from our two companies we will be even better equipped to deliver superior service and expanded value to our customers and supplier partners. We expect to leverage Univar's leading e-commerce and digital capabilities across Nexeo's financial systems and centralized ERP platform to accelerate the digital transformation already underway at Univar and reduce costs while enhancing the ease of doing business. Our shared commitment to safety and innovation and our common organization structures provide a strong foundation for a smooth and successful integration," Jukes concluded.
     
    Added Nexeo's CEO, David Bradley: "We share Univar's confidence in the future of our combined enterprise, given the strong strategic alignment across our business models, go-to-market strategies, superior product offerings, and digital capabilities. This combination represents a logical and compelling step forward, consistent with our focus on accelerating growth for the benefit of our customers, employees and suppliers.  We are especially pleased that Nexeo's employees are highly valued by Univar, and that our shareholders will be able to participate in the company's future success through ongoing equity ownership."
     
    The merger agreement provides for each share of Nexeo stock issued and outstanding to be converted into 0.305 shares of Univar common stock and $3.29 in cash, subject to adjustment at closing, representing a purchase price of $11.65 per share of Nexeo common stock, based on Univar's closing price on Sept. 14, 2018 of $27.40. The cash consideration is subject to a potential reduction of up to $0.41 per share, based on Univar's stock trading price prior to the completion of the acquisition.
     
    Following the close, existing Nexeo equity warrants will be exercisable for the merger consideration in accordance with the terms of the warrant agreement.
    The transaction is expected to deliver $100 million, or approximately $0.43 per share (after-tax), in annual run-rate cost savings by the third year following close, and immediately reduce ongoing annual capital expenditures by $15 million. It is expected to be accretive to Univar's Adjusted EPS beginning in the first full year following closing. Univar expects pro forma leverage ratio to be below 3.0x by the end of the first full year after closing.
     
    The transaction has been unanimously approved by the Boards of Directors of both companies and is anticipated to close in the first half of 2019, subject to the approval of both Univar and Nexeo shareholders, as well as receipt of regulatory approvals and satisfaction of other customary conditions. Nexeo's key stockholders, TPG and First Pacific, have agreed to provide consent for the proposed transaction.
    Related Searches
    • innovation
    • chemical
    • merger
    Suggested For You
    European Commission Issues Final Approval of Tronox European Commission Issues Final Approval of Tronox's Proposed Cristal Acquisition
    Covestro: Group Sales Improved 10.4 Percent in 2Q 2018 Covestro: Group Sales Improved 10.4 Percent in 2Q 2018
    Univar Inc., Westlake Chemical – Analyst Upgrades UNVR to Hold from Sell; 4Q17 WLK Results Univar Inc., Westlake Chemical – Analyst Upgrades UNVR to Hold from Sell; 4Q17 WLK Results

    Related Breaking News

    • Breaking News | Industry News
      European Commission Issues Final Approval of Tronox

      European Commission Issues Final Approval of Tronox's Proposed Cristal Acquisition

      ...
      08.23.18

    • Breaking News | Financial News
      Covestro: Group Sales Improved 10.4 Percent in 2Q 2018

      Covestro: Group Sales Improved 10.4 Percent in 2Q 2018

      ...
      07.26.18

    • Breaking News
      Univar Inc., Westlake Chemical – Analyst Upgrades UNVR to Hold from Sell; 4Q17 WLK Results

      Univar Inc., Westlake Chemical – Analyst Upgrades UNVR to Hold from Sell; 4Q17 WLK Results

      ...
      05.21.18


    Loading, Please Wait..
    Trending
    • Sherwin-Williams Launches Ultra-High-Solids Epoxy
    • AkzoNobel Powder Coatings Enhances Digital Services With Launch Of My Interpon Portal
    • Sherwin-Williams Leads Global Paints Brands In Value: Brand Finance
    • Sherwin-Williams Earns Highest Honor With Interior Paints In J.D. Power Paint Satisfaction Study
    • PPG Selects Chestnut Brown As Stain Color Of The Year For 2023
    Breaking News
    • PPG Opens $30-Million Battery Pack Application Center in China
    • Fact.MR: Steel Pipe Coatings Market To Hit $14.0 Billion By 2033
    • Omya Extends Lightweight Fillers Portfolio with the Acquisition of Bublon
    • OQ Chemicals Launches Biobased Oxbalance TCD Alcohol DM
    • Covestro Signs FIrst Major Renewable Energy Agreement for its U.S. Operations
    View Breaking News >
    CURRENT ISSUE

    May 2023

    • Purdue’s Xiulin Ruan Develops World’s Whitest and Coolest Paint
    • Aerospace Coatings
    • Biocides Directory
    • Lab & Testing Equipment Directory
    • Europe’s Top Paintmakers Pull Themselves Up Further
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    SmartyPants Vitamins Launches New Line of Gelatin-Free Multivitamin Gummies
    Flavanol Deficiency Linked to Age-Related Memory Decline: COSMOS-Web Study
    AHPA to Attend CITES Plants Committee Meeting in Geneva
    Coatings World

    Latest Breaking News From Coatings World

    PPG Opens $30-Million Battery Pack Application Center in China
    Fact.MR: Steel Pipe Coatings Market To Hit $14.0 Billion By 2033
    Omya Extends Lightweight Fillers Portfolio with the Acquisition of Bublon
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Microbot receives Grant for Endovascular Surgical Robot System
    Recall of Abiomed's Impella 5.5 with SmartAssist is Class I
    New FDA Nod Boosts Philips, Masimo Partnership
    Contract Pharma

    Latest Breaking News From Contract Pharma

    KBI Biopharma Unveils KBI PUREplatform
    AGC Biologics Introduces AGCellerate to Deliver IND-Ready GMP Material
    Element Creates New Lab Solutions Division
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Fasten Wins Gold at German Innovation Awards
    Attitude Expands Oceanly Makeup Collection
    L'Oréal Leads Funding Round for Biotech Company, Debut
    Happi

    Latest Breaking News From Happi

    Skylar’s ‘Boardwalk Delight’ Eau de Parfum Launches to Record Success at Sephora
    Register for the IBA Cocktail Reception in Las Vegas During Cosmoprof North America
    Amyris Announces Transformation Program
    Ink World

    Latest Breaking News From Ink World

    DuPont Artistri Inks Expands Pigment Inks Portfolio at ITMA 2023
    Toyochem Constructs New Pilot Facility for High-Performance Polymers
    UFlex Reports Unaudited 4Q, Full Year 2023 Results
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Baldwin to exhibit 'Complete Quality Control Solutions' at High Security Printing Latin America
    Label Source acquires division of OMNI Systems
    Vetaphone demos ‘M’ corona treater at Mark Andy showroom
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Maxcess International Opens New Facility in Mumbai
    emtec Showcases Groundbreaking Achievement in Haptic Measurement
    Hollingworth & Vose Joins United Nations Global Compact initiative
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Orthonika Receives Grant for Total Meniscus Replacement
    Treace to Buy RPM-3D Tech for Up to $30 Million
    Former BD, J&J Executives Join Acuitive Technologies Board
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Schreiner Group Receives Three FINAT Awards
    MClimate Releases Maintenance-Free CO2 Display
    Blackstone Completes Acquisition of Majority Stake of Copeland

    Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login